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					</table><p><a href="https://www.waareetranspower.com/" target="_blank" rel="noopener">Waaree Transpower</a>, a manufacturer of power and distribution transformers and a subsidiary of Waaree Energies, will invest ₹1.92 billion (~$20.15 million) in a 500 MVA, 400 kV transformer manufacturing facility.</p>
<p>Waaree Transpower manufactures power and distribution transformers, including inverter duty transformers used in renewable energy applications.</p>
<p>The facility is expected to become operational by April 2027 and will expand the company’s manufacturing capabilities across the 132 kV, 220 kV, and 400 kV voltage classes.</p>
<p>Viren Doshi, Director at Waaree Energies, said the investment reflects the company’s expectations for growth in India’s power infrastructure and demand for high-voltage transformer capacity.</p>
<p>The new facility will allow Waaree to participate in larger power infrastructure projects with higher voltage requirements.</p>
<p>Waaree Transpower has an order book of approximately ₹3.6 billion (~$37.78 million) for execution during fiscal year 2027.</p>
<p>In 2025, Waaree <a href="https://mercomindia.com/waaree-to-buy-64-stake-in-power-transformer-firm-kotsons" target="_blank" rel="noopener">acquired</a> a 64% equity stake in Rajasthan-based power transformer solutions company Kotsons for ₹1.92 billion (~$21.79 million).</p>
<p>In August, Waaree Transpower <a href="https://www.mercomindia.com/waaree-subsidiary-secures-medium-voltage-skids-order-worth-%E2%82%B91-6-billion" target="_blank" rel="noopener">secured</a> an order worth approximately ₹1.6 billion (~$16 million) to supply 8.3 MVA medium-voltage applications from an undisclosed global energy storage technology and solutions provider.</p>
<p>In January, Waaree Renewable Technologies <a href="https://mercomindia.com/waaree-acquires-55-in-power-transmission-firm-apsl" target="_blank" rel="noopener">announced</a> the acquisition of approximately a 55% equity stake in the power transmission and distribution company Associated Power Structures for a total consideration of around ₹12.25 billion (~$133.6 million).</p>
<p>The demand for transformers and other transmission equipment has been rising in India parallelly with the growing renewable energy capacity additions. The government has bee pushing for strengthening the domestic manufacturing industry and reduce the reliance on imports.</p>
<p>Last year, the government <a href="https://www.mercomindia.com/cea-pushes-for-localization-of-power-transmission-and-distribution-components" target="_blank" rel="noopener">identified</a> 73 items used in the power transmission and distribution sector to formulate a comprehensive localization strategy based on criticality, feasibility, and industry readiness. India has been importing these critical items due to technology gaps, limited domestic manufacturing capabilities, or economies-of-scale challenges.</p>


Waaree Transpower to Invest ₹1.92 Billion in Transformer Facility


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					</table><p><a href="https://www.waareetranspower.com/" target="_blank" rel="noopener">Waaree Transpower</a>, the transformer solutions subsidiary of <a href="https://www.waaree.com/" target="_blank" rel="noopener">Waaree Energies</a>, has secured an order worth approximately ₹1.6 billion (~$16 million) to supply 8.3 MVA medium-voltage (MV)  applications from an undisclosed global energy storage technology and solutions provider.</p>
<p>Shipments under the order began in July 2026.</p>
<p>The MV skid is an International Electrotechnical Commission standards-compliant, containerized system developed for battery energy storage applications.</p>
<p>According to Waaree Transpower, the equipment is integrated into a 20-foot container to facilitate transportation, installation, and deployment across project locations. The company said the system&#8217;s shippable and stackable configuration is designed for use in large-scale battery storage projects.</p>
<p>The latest order aims to support Waaree Transpower&#8217;s expansion in the global battery energy storage market. It also expands Waaree Transpower&#8217;s export business and its supply of electrical infrastructure for energy storage applications</p>
<p>Waaree Transpower, formerly known as Kotsons, designs and manufactures distribution and power transformers, substations, and customized electrical equipment. The company supplies equipment for utilities, renewable energy projects, and industrial applications in India and international markets.</p>
<p>Last year, Waaree <a href="https://www.mercomindia.com/waaree-to-buy-64-stake-in-power-transformer-firm-kotsons" target="_blank" rel="noopener">acquired</a> a 64% stake in Kotsons for ₹1.92 billion (~21.79 million), which was later renamed Waaree Transpower.</p>
<p>This March, the Board of Directors of Waaree Energies <a href="https://www.mercomindia.com/waaree-energies-to-increase-stake-in-transformer-solutions-subsidiary-to-75" target="_blank" rel="noopener">approved</a> an investment of ₹1.9 billion (~$20.32 million) in Waaree Transpower, increasing its stake in the company to 75.1%.</p>
<p>Waaree Renewable Technologies is<a href="https://www.mercomindia.com/waaree-acquires-55-in-power-transmission-firm-apsl?" target="_blank" rel="noopener"> expanding</a> its transmission and distribution (T&amp;D) business following its acquisition of a 55% stake in Associated Power Structures (APSPL) for approximately ₹12.25 billion (~$133.6 million). During the first quarter of the financial year 2027, APSPL executed transmission orders worth over ₹33 billion (~$341.96 million) and had a project pipeline exceeding ₹27 billion (~$279.79 million).</p>
<p>India has targeted <a href="https://www.mercomindia.com/india-eyes-137500-ckm-grid-expansion-to-support-900-gw-renewables-by-fy-2036?" target="_blank" rel="noopener">expanding</a> its power transmission network by 137,500 circuit km of lines and 827,600 MVA of substation capacity, at an estimated cost of ₹7.93 trillion (~$84.33 billion), to support 900 GW of non-fossil fuel capacity by the financial year 2035-36, according to the Central Electricity Authority.</p>


Waaree Subsidiary Secures Medium Voltage Skids Order Worth ₹1.6 Billion


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					</table><p>The Board of Directors of <a href="https://waaree.com/" target="_blank" rel="noopener">Waaree Energies</a> has approved an investment of ₹1.9 billion (~$20.32 million) in its transformer solutions subsidiary Waaree Transpower, increasing its stake in the company to 75.1%.</p>
<p>As of October 7, 2025, Waaree held a 64.04% stake in Waaree Transpower.</p>
<p>Waaree will acquire 25.3 million shares at an issue price of ₹75 (~$0.802) per share.</p>
<p>The transaction is expected to be completed by June 2026.</p>
<p>Last year, Waaree <a href="https://www.mercomindia.com/waaree-to-buy-64-stake-in-power-transformer-firm-kotsons">acquired</a> a 64% stake in Kotsons for ₹1.92 billion (~21.79 million), which was later renamed Waaree Transpower.</p>
<p>Waaree Transpower designs, manufactures, and supplies transformer solutions. It produces oil-filled and dry-type transformers and provides transformer solutions for special-purpose applications and renewable-energy projects.</p>
<p>Waaree Transpower’s annual turnover stood at ₹164.5 million (~$1.76 million) in FY 2023 and ₹84.7 million (~$905,630) in FY 2025.</p>
<p>The company <a href="https://www.mercomindia.com/higher-solar-module-sales-boost-waaree-energies-revenue-in-q3-fy-2026" target="_blank" rel="noopener">plans</a> to increase its transformer manufacturing capacity by 16,000 MVA with a planned capital expenditure (CAPEX) outlay of ~₹1.92 billion (~$20.99 million). It has an order book of ₹2.45 billion (~$26.78 million) for transformer supply.</p>
<p>In another decision, the board approved CAPEX of ₹39 billion (~$417 million) to establish a 2,500 TPD glass manufacturing plant, a key component of solar module manufacturing. The CAPEX will be a mix of debt and internal accruals.</p>
<p>In its earnings call for the third quarter (Q3) of FY 2026, the company announced plans to grow in battery energy storage systems, inverters, transformers, renewable power infrastructure, and green hydrogen electrolyzer markets.</p>
<p>In February 2026, Waaree <a href="https://www.mercomindia.com/waaree-to-set-up-16-gwh-lithium-ion-battery-gigafactory-in-andhra-pradesh" target="_blank" rel="noopener">announced</a> plans to set up a 16 GWh integrated lithium-ion battery manufacturing plant in Rambili, Anakapalli, Andhra Pradesh, with an investment of ₹81.75 billion (~$901.26 million). The integrated greenfield lithium-ion manufacturing plant will cover the entire battery value chain, including cell manufacturing, battery packs, and large-scale battery energy storage systems.</p>
<p>In Q3, the Waaree Group invested $30 million in United Solar Holdings, a polysilicon producer in Oman, enabling the company to establish a fully traceable supply chain and support its expanding manufacturing footprint across the U.S. and global markets.</p>
<p>Waaree also plans to develop a 4 GW inverter manufacturing facility by FY 2027, with a CAPEX outlay of ~₹1.8 billion (~$19.67 million).</p>


Waaree Energies to Increase Stake in Transformer Solutions Subsidiary to 75%

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