Waaree Energies Limited has announced the incorporation of a new wholly-owned subsidiary through its existing subsidiary structure. The company informed stock exchanges about this corporate development in compliance with regulatory disclosure requirements.

New Subsidiary Formation

EcoFlux Renewables Private Limited has been incorporated as a wholly-owned subsidiary of Waaree Forever Energies Private Limited (WFEPL). WFEPL itself is a wholly-owned subsidiary of Waaree Energies Limited, making EcoFlux Renewables an indirect wholly-owned subsidiary of the parent company.

Business Objectives and Strategic Purpose

The newly incorporated subsidiary has been established with specific strategic objectives focused on the renewable energy sector. EcoFlux Renewables Private Limited has been incorporated solely for facilitating and holding specific power projects under the Independent Power Producer (IPP) framework.

As a newly incorporated entity, EcoFlux Renewables is yet to commence its business operations. The company currently has nil turnover, which is expected given its recent incorporation.

Regulatory Compliance and Disclosure

The incorporation announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided the requisite disclosure as required under the SEBI Listing Regulations.

Corporate Structure Enhancement

This subsidiary formation represents an expansion of Waaree Energies' corporate structure to support its renewable energy business operations. The establishment of EcoFlux Renewables under the IPP framework indicates the company's strategic focus on power project development and management.

The subsidiary is incorporated in India and registered with the appropriate regulatory authorities, ensuring compliance with all statutory requirements for business operations in the renewable energy sector.

Waaree Energies has achieved a significant milestone in its expansion strategy as its subsidiary Sangam Solar One Private Limited has officially commenced operations at a new solar module manufacturing facility in Gujarat. The company has formally notified stock exchanges about this development under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Official Commencement Details

The wholly-owned subsidiary has officially started operations at its manufacturing facility with specific timing and regulatory compliance.

Plant Specifications and Capacity

The new manufacturing facility has been designed with impressive specifications that position it as a major player in the solar module production landscape.

Strategic Infrastructure Design

The plant's infrastructure has been strategically planned with dual production lines, each contributing 750 MW to the total capacity. This configuration allows for enhanced production flexibility and efficiency, optimized manufacturing processes across two dedicated lines, and scalable operations to meet varying market demands. The facility represents robust manufacturing capability in the solar energy sector.

Regulatory Compliance and Transparency

Waaree Energies has maintained full transparency by promptly informing both BSE Limited and National Stock Exchange of India Limited about the commencement of operations. The information has also been made available on the company's official website at www.waaree.com , ensuring comprehensive stakeholder communication.

Market Impact and Significance

The official commencement of operations at this facility marks an important development in India's solar manufacturing ecosystem. The 1500 MW capacity addition through Sangam Solar One strengthens the overall production capabilities in the renewable energy sector. Gujarat continues to be a preferred destination for solar manufacturing investments, and this facility adds to the state's growing renewable energy infrastructure. The operational launch demonstrates Waaree Energies' commitment to expanding its manufacturing footprint through subsidiary operations, contributing to India's renewable energy goals and manufacturing capabilities.