Waaree Energies Limited has officially announced its partnership with Rajasthan Royals as the Main Principal Partner for the upcoming season through a regulatory disclosure under Regulation 30 of SEBI regulations. The partnership positions the renewable energy company prominently on the team's official matchday jersey and training kits throughout the season.

Official Regulatory Disclosure

The company filed the announcement on March 18, 2026, with both BSE Limited and National Stock Exchange of India Limited, fulfilling its disclosure obligations under SEBI listing requirements. The revised press release titled "Waaree Energies powers up as the main Principal Partner for Rajasthan Royals" was submitted by Company Secretary Rajesh Ghanshyam Gaur.

Strategic Partnership and Brand Visibility

As part of the association, Waaree Energies logo will prominently feature on the front of Rajasthan Royals' official matchday jersey and training kits for the season. The partnership brings together two brands aligned in their commitment to innovation and sustainability, with a shared vision to inspire positive change through sport.

Leadership Perspectives

Hitesh Doshi, CMD of Waaree, emphasized the cultural significance of cricket in India, stating that the partnership enables the company to take the message of clean energy from industry corridors to the hearts of people across the country. He highlighted that as India advances towards global leadership in clean energy, this movement must extend beyond businesses to become a people's movement.

Alok Chitre, COO of Rajasthan Royals, welcomed Waaree Energies as their Main Principal Partner, noting that the partnership reflects their philosophy of transforming society through cricket and cricket through innovation. He emphasized that Waaree's leadership in driving the global energy transition aligns seamlessly with their commitment to building a forward-looking, purpose-led franchise.

Company Profile and Market Presence

Established in 1990, Waaree Energies operates advanced manufacturing facilities with a total solar PV module capacity of approximately 22.30 GW worldwide and a solar cell capacity of up to 5.40 GW. The company maintains a strong presence across domestic and over 25 international markets, offering a comprehensive portfolio spanning solar panels, inverters manufacturing, EPC services, green hydrogen solutions, and battery energy storage systems.

This partnership accelerates Waaree's efforts to translate its global expertise in solar modules and sustainable energy into tangible grassroots impact, aligning with Rajasthan Royals' mission to transform society through cricket and cricket through innovation.

Waaree Energies has received a formal arbitration notice from the International Court of Arbitration of the International Chamber of Commerce (ICC) regarding a request filed by Enel Green Power Development S.R.L. The arbitration stems from alleged breaches of a Share Purchase Agreement dated January 10, 2025, for the acquisition of Enel Green Power India Private Limited.

Arbitration Details and Venue

The ICC arbitration proceedings will be conducted in London, United Kingdom. The dispute centers around the Share Purchase Agreement through which Waaree Energies was to acquire the entire issued and paid-up share capital of Enel Green Power India Private Limited, a wholly-owned subsidiary of the claimant.

Nature of Claims and Allegations

Enel Green Power Development S.R.L. has alleged breaches of the Share Purchase Agreement by Waaree Energies and is claiming damages and loss of profits purportedly caused by these alleged breaches. The arbitration notice contains monetary claims against the company, though specific quantum details have not been disclosed.

Company's Response Strategy

Waaree Energies has disputed the allegations and intends to contest the claims vigorously in the arbitration proceedings. The company is evaluating the claims in consultation with its legal advisors and plans to file an appropriate response and counter-claim before the arbitral tribunal. The company has indicated it will invoke all contractual and legal remedies available to it.

Financial Impact Assessment

At this preliminary stage of the proceedings, the financial impact on Waaree Energies arising from the arbitration is not presently ascertainable and will depend upon the final outcome of the arbitration and any related proceedings. The merits of both parties' respective positions will be adjudicated through the pending ICC arbitration process.