Waaree Energies Subsidiaries Form Semiconductor JV

Waaree Power Private Limited (WPPL), a wholly owned subsidiary of Waaree Energies Ltd., along with its subsidiary Waaree Semicon Private Limited, has entered into a Joint Venture Agreement with SmartenGrand Ltd (SGL). The JV aims to manufacture and supply semiconductor products, including power application diodes, and establish a semiconductor fabrication unit in Gujarat, India. WPPL will hold an 86.83% stake and SGL will hold 13.17% in Waaree Semicon. This venture leverages SGL's technology and Waaree's infrastructure and market presence to offer competitive products.