Big Move in the Solar Sector: Waaree Energies Makes Another Major Acquisition, Strengthens Portfolio With 50 MW Project

In recent months, the name Waaree Group has been consistently in the spotlight within the renewable energy sector. And once again, the company has caught everyone’s attention with a major deal.
We’re talking about Waaree Energies, which has signed an agreement to acquire 100% stake in Sunbreeze Ninth Cloud through its wholly owned subsidiary, Waaree Forever Energies.
The target company owns a 50 MW solar project in Maharashtra, which will further strengthen Waaree’s growing renewable portfolio.

Deal Conditions and Timeline

The acquisition is subject to certain conditions and is expected to be completed by 30 November 2025. This deadline may be extended with mutual consent between both parties.
Waaree clarified that this is not a related-party transaction, meaning there is no personal involvement of promoters or affiliated entities.

Expanding Power Network Through Continuous Acquisitions

Waaree has been actively acquiring companies across the power sector over the past few months.

• In September 2025, a Waaree subsidiary acquired 76% stake in Racemosa Energy, a Maharashtra-based smart meter manufacturer, for ₹530 million (~$6 million).
• In the same month, the company purchased 64% equity stake in Kotsons, a Rajasthan-based transformer company, for ₹1.92 billion (~$21.79 million).

Large Solar and Wind Portfolio

Waaree has also added Enel Green’s 640 MW wind and solar portfolio, valued at ₹7.92 billion (~$91.73 million).
This acquisition, announced in January 2025, has further solidified the company’s position as one of India’s largest clean energy asset holders.

With each acquisition, Waaree’s clean energy footprint is expanding rapidly—positioning it among the biggest renewable portfolios in the country.

Strong Financial Performance

In Q2 FY26, Waaree Energies reported a staggering 69.96% YoY growth, taking its total revenue to ₹62.27 billion (~$708.41 million).

Current manufacturing capacity:

• 18.7 GW solar modules
• 5.4 GW solar cells

The company also has an order book of nearly 24 GW, valued at ₹470 billion (~$5.35 billion).

Future Plans

Waaree Renewable Technologies, the EPC arm of the group, recently secured a Letter of Award worth ₹1.56 billion (~$17.81 million) for a 150 MW ground-mounted solar project.
This project will be executed in FY27, further strengthening the company’s engineering and execution capabilities.

Conclusion

With a steady stream of strategic acquisitions, Waaree Energies is rapidly strengthening its position in the renewable energy sector. Given India’s rising demand for clean energy, the company is well on track to become a major driving force in the country’s solar ecosystem.

Will Waaree’s aggressive expansion eventually make it India’s biggest renewable powerhouse? Only time will tell—but the momentum is clearly in its favor.