Waaree Energies Limited’s Board of Directors has approved the relocation of manufacturing facilities and a significant capital expenditure of approximately US$ 37 million for its US subsidiary, Waaree Solar Americas Inc. This investment will revamp the Arizona facility, increasing its module manufacturing capacity from 1 GW to 1.6 GW. Upon completion, the company’s aggregate US manufacturing capacity will reach 4.8 GW.
Waaree Energies Board Approves Key Expansion Initiatives
The Board of Directors of Waaree Energies Limited convened on August 29, 2026, and approved several strategic initiatives aimed at enhancing the company’s manufacturing capabilities and operational efficiency. These decisions include the consolidation of existing manufacturing facilities and a substantial capital expenditure for the expansion of its US operations.
Manufacturing Facility Consolidation
In a move to streamline operations, the company has decided to consolidate its manufacturing facilities. The Plant & Machinery from the Tumb (1.0 GW) and Nandigram (1.11 GW) manufacturing sites will be relocated to the company’s existing facility in Chikhli, Gujarat. This consolidation is expected to improve operational synergies and efficiency.
US Facility Revamp and Capacity Expansion
A significant highlight of the board meeting was the approval of a capital expenditure of approximately US$ 37 million by Waaree Solar Americas Inc. This investment will be used to revamp the manufacturing facility located in Arizona, USA. The revamp involves upgrading to new high-efficiency module production lines, which will boost the Arizona facility’s manufacturing capacity from 1 GW to 1.6 GW.
Following this upgrade, Waaree Energies’ total aggregate manufacturing capacity in the United States will increase to 4.8 GW, with 3.2 GW located in Texas and the newly expanded 1.6 GW in Arizona. The funding for this capital expenditure will be sourced through a combination of debt and internal accruals.
Board Appointments and Departures
The Board also approved the appointment of Ms. Mona Bhide as an Additional Non-Executive Independent Director for a term of five years, commencing August 30, 2026, subject to shareholder approval. Concurrently, the company acknowledged the completion of the first term for Ms. Richa Goyal as a Non-Executive Independent Director. Ms. Goyal will cease to be an Independent Director effective close of business hours on August 29, 2026. The Board expressed its sincere appreciation for Ms. Goyal’s contributions.
Annual General Meeting and Dividend
Furthermore, the Board approved the notice for the 36th Annual General Meeting (AGM), scheduled for Thursday, September 24, 2026, which will be conducted via Video Conferencing/Other Audio Visual Means. A record date of Friday, September 11, 2026, has been set for determining the members eligible to receive the Final Dividend for the Financial Year 2025-26, pending shareholder approval at the AGM.
Source: BSE
