Waaree Energies Limited’s Board has approved a US$37 million capital expenditure for its US subsidiary, Waaree Solar Americas Inc., to revamp its Arizona facility. This upgrade will increase the Arizona plant’s manufacturing capacity from 1 GW to 1.6 GW. Concurrently, the company will consolidate its Indian manufacturing facilities, relocating plants from Tumb and Nandigram to Chikhli, Gujarat. These strategic moves aim to boost overall production capacity and operational efficiency.
Waaree Energies Board Approves Major Expansion and Consolidation Plans
Waaree Energies Limited’s Board of Directors, in a meeting held on August 29, 2026, has greenlit significant strategic initiatives focused on expanding manufacturing capabilities and optimizing operations. Key among these approvals is a capital expenditure of approximately US$37 million allocated to Waaree Solar Americas Inc. (WSA), a wholly-owned subsidiary. This investment is earmarked for revamping WSA’s manufacturing facility located in Arizona, USA.
Capacity Enhancement in the US
The revamp of the Arizona facility includes the replacement of existing module manufacturing lines with new, high-efficiency production lines. This upgrade is projected to increase WSA’s manufacturing capacity at its Arizona site from the current 1 GW to 1.6 GW. Following this expansion, the Company’s aggregate manufacturing capacity in the United States will reach 4.8 GW, with 3.2 GW in Texas and the newly enhanced 1.6 GW in Arizona. The capital expenditure will be financed through a combination of debt and internal accruals.
Consolidation of Indian Manufacturing
In addition to the US expansion, Waaree Energies will consolidate its Indian manufacturing facilities. The company’s plants and machinery located at Tumb (1.0 GW) and Nandigram (1.11 GW) will be relocated to the Company’s existing manufacturing facility in Chikhli, Gujarat. This consolidation is aimed at enhancing operational efficiencies and streamlining production processes. The closure of the Tumb and Nandigram facilities is expected to be completed on or before December 31, 2026, primarily for operational efficiency.
Board Appointments and Director Transition
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. Additionally, the Board noted the completion of the first term of 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 extended its appreciation for Ms. Goyal’s valuable contributions during her tenure.
Annual General Meeting and Dividend Record Date
The Board further resolved to convene the 36th Annual General Meeting (AGM) on Thursday, September 24, 2026, to be conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM). The record date for determining the entitlement of members 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.
Source: BSE
