Waaree Energies Multiplies Its Impact: 10 New IPP Subsidiaries Join the Green Grid

Updated: December 23, 2025 21:48

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Waaree Energies Limited has incorporated ten new wholly-owned subsidiaries under its step-down subsidiary, Waaree Forever Energies Private Limited. These entities are registered in Mumbai and are set up solely to facilitate and hold specific power projects under the Independent Power Producer (IPP) framework, marking a strategic expansion in India’s renewable energy sector.

Waaree Energies Limited announced the incorporation of ten new wholly-owned subsidiaries, all under the umbrella of Waaree Forever Energies Private Limited. The Certificates of Incorporation for these entities were received on December 22 and 23, 2025, as per regulatory filings with the Registrar of Companies, Mumbai. These newly formed companies are specifically structured to support and manage dedicated power projects under the IPP framework, reflecting Waaree’s growing commitment to renewable energy generation in India.

The companies are:

Lumina Greentech Private Limited (Dec 22, 2025)
Prithvi Vayu Green Energy Private Limited (Dec 23, 2025)
Tejas Urja Solutions Private Limited (Dec 23, 2025)
Akash Agni Renewables Private Limited (Dec 23, 2025)
Vayu Jal Energy Private Limited (Dec 23, 2025)
Surya Prakriti Power Private Limited (Dec 23, 2025)
Agni Prithvi Renewables Private Limited (Dec 23, 2025)
Jal Vayu Urja Private Limited (Dec 23, 2025)
NetZero Ventures Private Limited (Dec 23, 2025)
Carbon Positive Energy Solutions Private Limited (Dec 23, 2025)

These entities are yet to commence business operations and have no turnover as they are newly incorporated. Waaree Forever Energies Private Limited holds 100% shareholding in each, ensuring full control and alignment with Waaree’s renewable energy objectives.

Key Highlights:

Waaree Forever Energies Private Limited, a wholly-owned subsidiary of Waaree Energies, has incorporated ten new companies for IPP power projects.
All subsidiaries are registered in Mumbai and are designed to facilitate and hold specific renewable energy projects.
Each entity is 100% owned by Waaree Forever Energies Private Limited, ensuring strategic control and focus.
These companies are newly formed and have not yet commenced operations or generated any turnover.
The move strengthens Waaree Energies’ position in India’s renewable energy sector, supporting its growth in the IPP space.

Source: BSE Corporate Announcements, Investywise, Scanx Trade

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