Waaree incorporates two new IPP subsidiaries

Waaree Energies Limited announced on 16 December 2025 that its wholly owned subsidiary, Waaree Forever Energies Private Limited, has incorporated two new wholly owned subsidiaries, Windora Energy Private Limited and Agni Vayu Energy Private Limited.

The two entities were incorporated in India on 16 December 2025 and are registered with the Registrar of Companies (RoC), Mumbai. Both companies have been classified as Independent Power Producers (IPPs) and have been established solely to facilitate and hold specific power projects.

As per the regulatory disclosure, Waaree Forever Energies Private Limited holds 100 percent of the share capital in both Windora Energy Private Limited and Agni Vayu Energy Private Limited. The companies are newly incorporated and have not yet commenced business operations, resulting in nil turnover. The formation does not constitute a related party transaction.

The latest incorporations add to Waaree Energies’ recent expansion of its IPP structure. Earlier in December 2025, the company incorporated Eco Flux Renewables Private Limited and Solaris Horizon Energy Private Limited as step down subsidiaries through Waaree Forever Energies Private Limited, taking the total number of IPP focused subsidiaries incorporated this month to four.

The featured photograph is for representation only.