Waaree Energies has significantly expanded its corporate structure through multiple subsidiary formations and strategic partnerships. The company incorporated WH Clean Mobility Systems Private Limited on August 4, 2026, through its subsidiary Waaree Clean Energy Solutions, focusing on hydrogen mobility solutions using clean fuels and batteries. Additionally, Waaree Smart Meters acquired a 24.21% stake in Eppeleton Engineers for ₹21.78 crore, positioning itself as a significant minority shareholder in the engineering sector. The company also formed eight new step-down subsidiaries under Waaree Forever Energies between January 13-15, 2026, all registered with ROC Mumbai but currently not operational.
Waaree Energies has secured substantial solar module orders totaling 2,210 MW capacity across multiple markets. The company received a 210 MW DCR solar module order for India targeting FY 2026-27 delivery, while securing a 2,000 MW solar module order for the USA spanning 2028-2030. Earlier, the company had announced orders worth 210 MW for India and 2,000 MW for USA through its subsidiary, demonstrating strong market demand for its products and manufacturing capabilities in India's expanding renewable energy sector.
Waaree Clean Energy Solutions has entered India's specialty gases business with a pan-India supply model for semiconductor and solar cell manufacturers. CEO Anuj Sharma expects the demand for specialty gases to grow multifold, stating that semiconductor and solar cell manufacturing cannot scale in India without a reliable, high-purity gas and chemical supply chain. The company is building a specialty gases plant at Gujarat Industrial Development Corporation (GIDC) Saykha, Dahej, with plans spanning ultra-high-purity (UHP) ammonia, phosphine/hydrogen mixtures, oxygen and hydrogen. The business will be developed in phases, including specialty gases warehousing with multi-purpose storage and handling infrastructure designed to semiconductor-grade safety and purity standards. As per NDTV Profit, the company is already engaged with various potential customers and at different stages of discussions for specialty gases supply, with gases storage expected to be operational from the next quarter.
The company's subsidiary Waaree Forever Energies secured a Letter of Award from Solar Energy Corporation of India Limited for a 300MW wind power project in Dwarka, Gujarat, featuring a 25-year Power Purchase Agreement. Additionally, Waaree Energies formalized comprehensive green hydrogen agreements worth 52.5 MW through its subsidiary, including a 15-year EAAS contract for 2.5 MW electrolyzer with ZFI and a 50 MW supply MOU. The project will produce 41 lakh Nm³ green hydrogen annually with commercial operations expected by Q3 FY 2026-27, supporting industrial decarbonization across Northern India. The company is also establishing an electrolyser manufacturing unit in Valsad, as reported by NDTV Profit.
Recent financial developments include the C.T. Doshi Family Trust acquiring a 44.14% direct stake and additional 18.34% indirect stake in Waaree Energies through an off-market gift from promoter Mr. Chimanlal Tribhuvandas Doshi on July 16, 2026. Additionally, Ultratech Cement acquired a 26% stake for ₹27.76 crore in a joint venture with Waaree Energies' subsidiary SHEPL, with an energy supply agreement ensuring electricity offtake from the project. Shares of Waaree Energies Ltd were trading 0.42% higher at ₹2,492.50 on the NSE at 12:45 PM, as reported by NDTV Profit. The company has also announced plans for a 20 GW battery manufacturing facility starting FY27, backed by ₹1,000 crore equity funding and ₹25,000 crore capex over 24 months.
