Waaree Energies Limited has issued a regulatory clarification to stock exchanges regarding its 300 MW solar module supply contract with a Sembcorp subsidiary. The clarification comes in response to queries from exchanges following media reports about the company securing a significant module supply order.

Contract Details and Timeline

The company confirmed that it entered into a contract with Green Infra Clean Wind Technology Private Limited (GICWTPL) on October 23, 2025. GICWTPL is identified as a Special Purpose Vehicle (SPV) of Sembcorp Green India Private Limited. The contract involves the supply of 300 MW solar modules to the Sembcorp subsidiary.

Regulatory Compliance Statement

Waaree Energies emphasized that the transaction was undertaken in the normal course of business operations. The company stated that pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III Para B of Part A, the transaction does not constitute a material event requiring disclosure to stock exchanges.

The company addressed concerns about share price movements, clarifying that such movements are market-driven. It confirmed that there is no unpublished price-sensitive information pending disclosure to stock exchanges regarding this matter.

Legal and Regulatory Position

In its clarification letter dated December 20, 2025, Waaree Energies stated that no regulatory or legal proceedings are being initiated in relation to the aforementioned contract. The company reaffirmed its commitment to compliance with SEBI regulations.

Exchange Communication

The clarification was submitted to both BSE Limited and National Stock Exchange of India Limited. The company's response was triggered by a news item that appeared on Economic Times Energy portal dated December 18, 2025, and subsequent exchange queries dated December 19, 2025. Waaree Energies assured continued compliance with all applicable SEBI listing regulations and disclosure requirements.

Waaree Energies has provided this regulatory clarification on its 300 MW solar module supply contract with Sembcorp subsidiary, stating that the transaction was undertaken in the normal course of business. The company maintains that the contract does not require specific disclosure under current SEBI regulations and affirms its commitment to regulatory compliance.

Waaree Energies has announced the incorporation of a new step-down subsidiary named Hydro Bloom Energy Private Limited through its wholly-owned subsidiary Waaree Forever Energies Private Limited. The company informed stock exchanges about this development under Regulation 30 of SEBI Listing Regulations.

Incorporation Details

Hydro Bloom Energy Private Limited was incorporated on December 18, 2025, and is registered with the Registrar of Companies, Mumbai. The Certificate of Incorporation was received on December 19, 2025. Waaree Forever Energies Private Limited, a wholly-owned subsidiary of Waaree Energies, holds 100% share capital of the newly formed entity.

Business Objectives

The newly incorporated subsidiary is established solely for facilitating and holding specific power projects under the Independent Power Producer (IPP) framework. This strategic move allows Waaree Energies to expand its presence in the power generation sector beyond its core solar panel manufacturing business.

Strategic Implications

The formation of Hydro Bloom Energy represents Waaree Energies' strategic diversification into power project development and ownership. By creating a dedicated entity for IPP projects, the company can pursue power generation opportunities while maintaining operational clarity across different business segments.

This step-down subsidiary structure provides enhanced flexibility for project-specific operations and potential future partnerships in the power sector. The company is yet to commence business operations through this new entity, indicating early-stage planning for upcoming power projects.