Waaree Energies has received approval for capex for setting up of 4 GW Cell plant in Unn, Dist: Navsari in the State of Gujarat and 4 GW Ingot Wafer plant in Nagpur in the state of Maharashtra for total amount of Rs 2,754 crore through its wholly owned subsidiary Sangam Solar One. The capex will be spread over FY 2026-27 and will be financed through a combination of internal accruals and borrowed capital.
The company has also received approval for acquisition of 100% shareholding of Voltshift Energy Transition (step down subsidiary) from Waaree Forever Energies (wholly owned subsidiary). It will be acquired solely for the business of Transformers, thereby enabling transformer business to operate as an independent Strategic Business Units within the group framework.
The Board of Directors of the Company at its meeting held July 28, 2025 has approved the same.
Waaree Energies is primarily engaged in the business of manufacture of solar photo-voltaic modules, setting up of projects in solar space and sale of electricity.
