Waaree to consolidate two Gujarat plants, expand US capacity to 4.8 GW
Waaree Energies Limited has approved a series of strategic measures covering its manufacturing footprint, US expansion and board composition at a board meeting held on August 29, 2026. The company will consolidate two domestic manufacturing facilities into its existing Chikhli facility, while its US subsidiary will invest approximately US$37 million to expand and upgrade its Arizona manufacturing operations.
Manufacturing consolidation
The company has approved the relocation of plant and machinery from its Tumb and Nandigram facilities to its existing manufacturing facility at Chikhli, Gujarat. The Tumb facility has a capacity of 1.0 GW, while Nandigram has a capacity of 1.11 GW. The relocation is expected to be completed on or before December 31, 2026, with the consolidation intended to improve operational efficiency.
The Tumb and Nandigram facilities together contributed approximately 14% of Waaree Energies’ standalone turnover in the last financial year.
US expansion
The board has approved capital expenditure of approximately US$37 million by Waaree Solar Americas Inc. (WSA), the company’s wholly owned subsidiary, for revamping its manufacturing facility in Arizona.
The revamp will replace the facility’s existing module production lines with new high-efficiency lines, increasing its manufacturing capacity from 1 GW to 1.6 GW. Following completion, Waaree Energies’ aggregate manufacturing capacity in the United States will increase to 4.8 GW, comprising 3.2 GW at its Texas facility and 1.6 GW at Arizona.
The approved capital expenditure will be financed through a combination of debt and internal accruals.
Board changes
The board has appointed Ms. Mona Bhide as an Additional Non-Executive Independent Director for a first term of five consecutive years, effective August 30, 2026, subject to shareholders’ approval.
Bhide has been a legal practitioner since 1989 and currently serves as Managing Partner of Dave & Girish & Co. Advocates. Her areas of expertise include corporate law, securities, capital markets, structured finance, and mergers and acquisitions.
Meanwhile, Ms. Richa Goyal has completed her first five-year term as a Non-Executive Independent Director and ceased to hold office at the close of business hours on August 29, 2026. The board and management expressed their appreciation for her contributions during her tenure.
