Waaree Energies Raises $120.88M to Expand Solar Capacity

08 Aug 2023 CW Team

India’s solar panel manufacturer, Waaree Energies, has announced that it has raised approximately 10 billion rupees ($120.88 million) in a second round of funding. The funding was led by Mumbai-based investment firm ValueQuest and will be used to enhance the company’s capacity by 6 gigawatts (GW).

Currently, Waaree Energies has a capacity of 12 GW and the additional wattage will be utilized for producing solar ingots and wafers, cells, and modules. The valuation of the company after the funding has not been disclosed.

In October 2022, Waaree Energies secured a primary round of funding worth about 10.40 billion rupees ($125.70 million) from a number of investors, including family offices and high net-worth individuals. The company believes that this new funding will support its growth, expand its market presence, and contribute to the renewable energy transition.

This round of funding comes at a time when businesses are increasingly focused on renewable energy. Adani Energy Solutions has recently achieved financial closure on a $1 billion project to bring renewable energy to Mumbai, while Reliance Industries has signed an agreement with Brookfield Asset Management to explore the manufacturing of renewable energy and decarbonization equipment in Australia.

The renewable energy sector in India is witnessing significant growth, as the country prioritizes clean energy solutions to reduce its carbon footprint and dependence on fossil fuels. With the additional funding, Waaree Energies will be able to contribute to this transition by expanding its production capabilities and meeting the increasing demand for solar power.

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..