Waaree Energies Consolidates Manufacturing, Expands US Capacity
Waaree Energies Ltd. announced a significant consolidation of its manufacturing facilities, relocating plants from Tumb and Nandigram to its existing Chikli, Gujarat facility for operational efficiency. The company also approved a capital expenditure of approximately US$37 million for its US subsidiary, Waaree Solar Americas Inc. (WSA), to upgrade its Arizona facility. This upgrade will increase WSA's manufacturing capacity from 1 GW to 1.6 GW, boosting the company's total US capacity to 4.8 GW. Additionally, the board approved the appointment of Ms. Mona Bhide as an Additional Non-Executive Independent Director and noted the cessation of Ms. Richa Goyal's tenure. The company also announced the 36th AGM on September 24, 2026, and set September 11, 2026, as the record date for the final dividend for FY 2025-26.
Key Highlights
- Consolidating Indian manufacturing facilities to Chikli, Gujarat.
- US subsidiary to invest US$37 million in Arizona facility upgrade.
- US manufacturing capacity to increase to 4.8 GW post-upgrade.
- New Independent Director appointed; another completes tenure.
- AGM scheduled for September 24, 2026; dividend record date set.
Price Impact
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