Waaree Energies announces CEO succession, subsidiary starts solar plant

Waaree Energies Limited announced two important corporate developments, including a major expansion in manufacturing and a planned change in leadership. The company said its subsidiary has begun operations at a new 3.05 GW solar inverter manufacturing facility in Gujarat. Separately, the board has approved a leadership transition, with Chief Executive Officer (CEO) Amit Pathankar resigning and Jignesh Rathod set to take over.

On 29 December 2025, Waaree informed the stock exchanges that its wholly owned subsidiary, Waaree Power Private Limited, has established and commenced production at two new solar inverter manufacturing lines at its plant in Sarodhi-Valsad, Gujarat. Each line has an annual capacity of 1.525 GW, taking the combined new capacity to 3.05 GW. Operations began at 10:00 AM on the same day.

In a separate filing made under the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, Waaree stated that its board, in a meeting held on 29 December 2025, accepted the resignation of Whole-time Director and CEO Amit Pathankar. He is stepping down to pursue opportunities outside the company, with his last working day set as 15 May 2026 or an earlier mutually agreed date. The board recorded its appreciation for his leadership and contributions.

Based on the recommendation of the Nomination and Remuneration Committee, the Board has appointed Jignesh Rathod, currently Director – Operations, as CEO-Designate, effective immediately. He will formally assume the role of CEO and Key Managerial Personnel on 16 May 2026 or earlier if Pathankar exits sooner. Rathod, who holds engineering and business administration qualifications, has been associated with Waaree since 2007 and has more than 18 years of operational experience.

The company said the planned internal succession supports continuity and organisational stability. The filing also included Pathankar’s resignation letter dated 15 November 2025, in which he stated his intention to join Saarv Solutions Private Limited as a co-founder.