Waaree Energies Limited has announced the consolidation of its manufacturing facilities by relocating plants from Tumb and Nandigram to its existing Gujarat facility. Additionally, its US subsidiary, Waaree Solar Americas Inc., will invest approximately US$ 37 million to revamp its Arizona plant, increasing its capacity to 1.6 GW. This expansion will bring the total US manufacturing capacity to 4.8 GW.
Manufacturing Consolidation and Expansion
Waaree Energies Limited has approved a significant strategic move to consolidate its manufacturing operations. The company will relocate its plant and machinery from the Tumb (1.0 GW) and Nandigram (1.11 GW) manufacturing facilities to its existing site in Chikhli, Gujarat. This consolidation aims to streamline operations and enhance efficiency.
US Capacity Boost
In a parallel development, Waaree Solar Americas Inc. (WSA), a wholly-owned subsidiary, will undertake a capital expenditure of approximately US$ 37 million. This investment is earmarked for revamping its manufacturing facility in Arizona, USA. The upgrade involves replacing existing module production lines with new, high-efficiency ones. This enhancement is projected to increase WSA’s manufacturing capacity in Arizona from the current 1 GW to 1.6 GW.
Projected US Capacity
Upon completion of these initiatives, Waaree Energies’ aggregate manufacturing capacity in the United States is anticipated to reach 4.8 GW. This will comprise 3.2 GW at its Texas facility and the newly expanded 1.6 GW at its Arizona plant. The capital expenditure for this expansion will be financed through a combination of debt and internal accruals.
Director Appointments and Departures
The Board also approved the appointment of Ms. Mona Bhide as an Additional Non-Executive Independent Director for a five-year term, commencing August 30, 2026, subject to shareholder approval. Concurrently, Ms. Richa Goyal will conclude her first term as a Non-Executive Independent Director on August 29, 2026, after five years of service. The Board expressed its gratitude for Ms. Goyal’s contributions.
Annual General Meeting and Dividend
A notice was issued convening the 36th Annual General Meeting (AGM) of the Company for Thursday, September 24, 2026, to be held via Video Conferencing/Other Audio Visual Means (VC/OAVM). The record date for determining shareholders eligible to receive the Final Dividend for the Financial Year 2025-26 has been set as Friday, September 11, 2026, pending shareholder approval at the AGM. The board meeting commenced at 10:45 A.M. IST and concluded at 11:32 A.M. IST.
Source: BSE
