Waaree Energies Ltd. Company History and Annual Growth Details

Our Company was originally incorporated as ‘Anmol Fluid Connectors Private Limited’ at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 18, 1990, issued by the RoC. The name of our Company was changed to ‘Waaree Solar Private Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on April 25, 2007. The name of our Company was further changed to ‘Waaree Energies Priave Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on October 15, 2007. The name of our Company was further changed to ‘Waaree Energies Private Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on December 12, 2007. Thereafter, our Company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders held on March 8, 2013, and consequently the name of our Company was changed to its present name i.e., ‘Waaree Energies Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on May 2, 2013.

Major Events and Milestones:

2007

Entered the solar energy sector with a 30 MW module manufacturing line

2014

Started a joint venture with North Eastern Electric Power Corporation Limited (“NEEPCO”) for implementation of solar power project in Sehore, Madhya Pradesh

2017

Acquired 40% shares in Waaneep Solar Private Limited from NEEPCO pursuant to which Waaneep Solar Private Limited became our wholly owned subsidiary

2018

Commissioned solar photovoltaic modules plant having capacity of 1,000MW Divested Waaneep Solar Private Limited to Hero Solar Energy Private Limited in tranches

2019

Commissioned international EPC project of 49.5 MWp ground mounted Song Giang solar power project in Vietnam

2021

Acquired 500 MW Solar Module manufacturing facility to take total installed capacity to 2GW Initiated construction activities for a solar cell manufacturing unit

2023

Increased capacity to 12GW Selected as a manufacturer under the PLI Scheme for setting up a manufacturing facility of 6GW as a greenfield project

2024

Increased capacity to 13.3 GW with commissioning of 1.3 GW of module manufacturing facility at Indosolar Limited’s Noida facility