Waaree Energies Limited has approved a capital expenditure of approximately US$37 million for its wholly-owned subsidiary, Waaree Solar Americas Inc. (WSA), to revamp its manufacturing facility in Arizona, USA. This strategic investment aims to upgrade production lines, increasing the Arizona facility’s capacity from 1 GW to 1.6 GW. Upon completion, the company’s aggregate manufacturing capacity in the United States will reach 4.8 GW, with 3.2 GW in Texas and 1.6 GW in Arizona.
Waaree Energies Boosts US Manufacturing Capacity
Waaree Energies Limited announced today that its Board of Directors has approved a significant capital expenditure of approximately US$37 million. This investment will be made by Waaree Solar Americas Inc. (WSA), a wholly-owned subsidiary, to revamp its existing manufacturing facility located in Arizona, USA.
Strategic Facility Upgrade
The revamp entails the replacement of current module manufacturing lines with new, high-efficiency production systems. This upgrade is projected to increase the manufacturing capacity at the Arizona facility from its current 1 GW to 1.6 GW. This strategic move is part of Waaree’s broader plan to enhance its global manufacturing footprint and meet growing market demand.
Expanded US Footprint
Following the completion of this expansion, Waaree Energies’ total aggregate manufacturing capacity in the United States is expected to reach 4.8 GW. This capacity will be distributed across its facilities, with 3.2 GW located in Texas and the newly expanded 1.6 GW in Arizona. The capital expenditure for this project will be funded through a combination of debt and internal accruals.
Consolidation of Indian Operations
In addition to the US expansion, the Board also approved the consolidation of the Company’s manufacturing facilities in India. This involves relocating plant and machinery from the Tumb (1.0 GW) and Nandigram (1.11 GW) manufacturing facilities to the Company’s existing manufacturing facility at Chikhli, Gujarat. This consolidation is expected to streamline operations and improve efficiency.
Director 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 from August 30, 2026, subject to shareholder approval. Furthermore, the first term of Ms. Richa Goyal as a Non-Executive Independent Director concluded, and she will cease to be an Independent Director effective August 29, 2026. The Board expressed its appreciation for Ms. Goyal’s contributions.
Annual General Meeting and Dividend
Notice has been given for the 36th Annual General Meeting (AGM) of the Company, scheduled for Thursday, September 24, 2026, to be conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM). A record date of Friday, September 11, 2026, has been set for determining the Members entitled to receive the Final Dividend for the Financial Year 2025-26, pending shareholder approval at the AGM.
Source: BSE
