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Waaree Energies Approves ₹3900 Crore Capex for Glass Plant
24 Mar
Summary
- Waaree Energies plans a ₹3,900 crore investment for a new glass manufacturing facility.
- The company increased its stake in Waaree Transpower to 75.10% for ₹190 crore.
- The new glass plant will have a daily capacity of 2,500 tonnes.
Waaree Energies Limited has approved a significant capital expenditure of ₹3,900 crore to establish a new glass manufacturing facility. This plant, to be operated by its wholly owned subsidiary Waaree Green Glass Private Limited, is projected to have a substantial daily capacity of 2,500 tonnes.
The company is also enhancing its stake in Waaree Transpower Private Limited, acquiring additional equity to raise its shareholding from 64.04% to 75.10%. This strategic move, valued at approximately ₹190 crore and expected to conclude by June 2026, is intended to bolster capacity expansion and capital expenditure within the transformer manufacturing segment.
Waaree Transpower specializes in a variety of transformers, including those for renewable energy applications, and possesses an installed capacity of 4,000 MVA. These initiatives underscore Waaree Energies' commitment to its expansion strategy and growing its operational capabilities.
