Waaree Energies Limited, India's largest solar module manufacturer and a leading renewable energy company, has entered the transformer manufacturing sector through the acquisition of a 64% equity stake in Kotsons Private Limited. The investment, valued at approximately $23 million (₹192 crore), was made via primary capital infusion, making Kotsons a subsidiary of Waaree Energies.

Established in 1979, Kotsons Private Limited manufactures power and distribution transformers at its facility in Alwar, Rajasthan, with a production capacity of 4,000 MVA. The company produces transformers up to 35 MVA / 36 kV and holds several domestic and international certifications, including UL accreditation for dry-type transformers--enabling export opportunities to the USA and Canada.

The acquisition marks Waaree Energies' entry into the transformer segment, reinforcing its strategy of vertical integration across the renewable energy value chain. With India's transformer market projected to grow at 8-10% annually to reach USD 5-6 billion by 2030, the move positions Waaree to meet rising domestic and international demand for reliable power infrastructure.

This development aligns with Waaree's vision of becoming a comprehensive energy solutions provider, spanning solar generation, transmission, and distribution.

We have previously reported that Waaree Energiesacquired Kamath Transformers Pvt. Ltd., further underscoring its growing presence in the transformer sector -- read the full news here.

Source: waaree.com