India: Indian solar PV company Waaree Energies is investing $415 M (INR39 B) to build a solar glass manufacturing facility under its fully owned subsidiary, Waaree Green Glass. The plant is expected to produce 2,500 tonnes per day and will be funded through a mix of debt and internal resources.

In parallel, Waaree has increased its holding in power transformer maker Kotsons from 64.04 % to 75.10 %. The company has been rebranded as Waaree Transpower Private Limited. The additional investment of about $200 M (INR19 B) will support capacity expansion and capital requirements for the transformer business, with the transaction expected to close by June 2026. Waaree initially acquired Kotsons in September 2025.

These steps are part of Waaree’s broader strategy, “Waaree 2.0,” to strengthen its presence across the solar value chain. The company recently began construction of a 10 GW solar ingot and wafer plant in Butibori, Nagpur, spanning 300 acres, with an investment of $671 M (INR62 B). Last year, it commissioned a 5.4 GW solar cell facility in Gujarat, which Waaree says is the largest in India.

Headquartered in Mumbai, Waaree operates advanced manufacturing sites with a total solar PV module capacity of 22.3 GW globally and a cell manufacturing capacity of up to 5.4 GW, consolidating its position as a leading solar equipment producer.

Source: Index Box

🟡 Catch up on solar

#India#manufacturing#renewable energy#solar glass#solar PV#transformers#Waaree 2.0#Waaree Energies

Discover how digitalization and flexibility keep the grid reliable as renewables grow. Meet experts and explore smart grid innovations at EM Power Europe 2026.

The combined-cycle plant will have the capacity of 1,365 MW and is Duke Energy’s first new generation facility in ten years.

New North Carolina plant will support grid upgrades, strengthen supply chains, and create around 160 jobs.