From pv magazine India
Waaree Energies has approved a capital expenditure of INR 39 billion to set up a solar glass manufacturing plant with a capacity of 2,500 MT per day. The facility will be developed through its wholly owned subsidiary, Waaree Green Glass, and funded through a mix of debt and internal accruals.
The company’s board has also approved the acquisition of an additional equity stake in its subsidiary, Waaree Transpower (formerly Kotsons), increasing its shareholding from 64.04% to 75.10%.
The transaction, valued at around INR 1.9 billion, will be carried out via cash consideration at INR 75 per share (face value INR 10), for the acquisition of around 25.3 million equity shares. The deal is expected to be completed by June 2026.
Waaree Transpower designs, manufactures, and supplies advanced transformer solutions. The company said the additional stake will support capacity expansion and capital expenditure requirements.
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