Author: PPD Team Date: 23/05/2025
Waaree Renewable Technologies Limited has announced the incorporation of a new wholly owned subsidiary, Sunsational Power Private Limited, to strengthen its presence in the solar energy sector.
The subsidiary, set up with an authorised capital of Rs 0.1 million, is awaiting its certificate of incorporation and has not yet commenced commercial operations. It will operate exclusively within the solar renewable energy domain.
The announcement comes alongside Waaree’s strong financial performance for the year ended March 31, 2025. The company reported an 82.29% year-on-year increase in revenue from operations, a 50.06% rise in EBITDA, and a 57.64% growth in profit after tax.
In a recent interview with NDTV Profit, Dr. Hitesh Doshi, Chairman and Managing Director of the Waaree Group, outlined the company’s strategy to position itself as a fully integrated global energy solutions provider.
Waaree has recently inaugurated a solar cell manufacturing facility in Chikhli, Maharashtra, to support India’s domestic manufacturing goals. The company also plans to begin manufacturing operations in the United States this financial year, aiming to serve global demand while reducing geopolitical risk.
Dr. Doshi also noted Waaree’s diversification into emerging technologies, including battery storage and green hydrogen, to support future energy demands driven by data centres and artificial intelligence (AI).