Waaree enters transformer business with Rs 2.93 billion acquisition

Waaree Energies Limited has acquired 100 per cent equity in Kamath Transformers Private Limited and Green New Delhi Forever Energy Private Limited, expanding its footprint in both manufacturing and power project development.

The acquisition of Kamath Transformers, valued at approximately Rs 2.93 billion, marks Waaree’s entry into the transformer manufacturing segment. Kamath Transformers was established in 1994 and has since grown into a recognised manufacturer and exporter of power and distribution transformers, inverter duty transformers, earthing transformers, and other specialised units.

Its plant spans 2 acres with a 60,000 sq. ft. built-up area. The facility is equipped with 3 to 7.5-ton horizontal winding machines, a pressurised winding area to control dust, and cranes with capacities ranging from 10 to 40 tons to handle large equipment. The company produces transformers up to 50 MVA in the 132 kV class and offers units for special applications.

Separately, Waaree Forever Energies Private Limited, a wholly owned subsidiary of Waaree Energies, has acquired Green New Delhi Forever Energy Private Limited.