Archive · 24 Dec 2025
Waaree Energies Expands with Strategic Investments
Waaree Energies, a company that makes solar panels, made two big moves.
First, they bought shares in a company called United Solar Holding Inc (USH) for $30 million.
This gives them a small part of a big solar panel factory in Oman.
The factory is one of the largest outside China and can make a lot of solar panels.
Waaree Energies also got a big order worth ₹100 crore to make special transformers for solar projects in India.
These transformers help solar projects work better.
Waaree Energies is growing fast and wants to be a big player in the solar industry.
Waaree Energies acquired 5.37mn Series B Preferred Shares of USH for $30 million, gaining a stake in a major polysilicon plant in Oman.
The Oman plant has a capacity of 100 ktpa polysilicon and 40 GWpa modules, likely meeting a portion of Waaree's wafer-ingot requirements.
Waaree Energies secured a ₹100 crore order for 1.27 GW Inverter Duty Transformers (IDT) for solar projects in multiple Indian states.
The transformers are designed for high-frequency, high-voltage transmissions, crucial for solar projects.
Waaree Energies commissioned 5.1GW of module capacity in Gujarat in Q3FY26 and aims to expand its US and global footprint.
- Who
- Waaree Energies
- What
- Acquired 5.37mn Series B Preferred Shares of USH and secured a ₹100 crore transformer order
- When
- December 23, 2025
- Where
- Oman (USH plant), Multiple states in India (transformer deployment)
- Why
- To backward integrate upstream in the PV value chain and support solar projects
- Company
- Waaree Energies
- Acquisition
- 5.37mn Series B Preferred Shares of USH
- Investment Amount
- $30 million
- Plant Location
- Oman
- Plant Capacity
- 100 ktpa polysilicon, 40 GWpa modules
- Expected Stake
- Under 5%
- Project Cost
- $1.6 billion
- Waaree's Module Capacity
- 5.1GW in Gujarat (Q3FY26)
- Broker's Call
- Buy
- Target Price
- ₹4,260
- Current Market Price
- ₹3,095.25
