Waaree Energies will merge its group company Indosolar with itself in a deal valued at around ₹9.5 billion. The proposed merger will bring the group’s solar cell and module manufacturing operations under a single entity. According to the companies, the consolidation will help simplify the group structure and generate potential cost savings and operational efficiencies.
Merger to Integrate Solar Manufacturing Operations
Both Waaree Energies and Indosolar manufacture solar photovoltaic (PV) modules. However, Indosolar does not operate its own solar cell manufacturing capacity and currently depends on Waaree Energies and other manufacturers for its cell requirements. Following the merger, Waaree Energies will integrate the businesses under one corporate structure. As a result, the group expects to streamline manufacturing operations and improve coordination between solar cell and module production.
Consolidation to Support Cost Efficiency
The companies said the merger will simplify the group’s organisational structure while creating opportunities to reduce costs. Furthermore, integrating the two businesses could improve operational coordination across the solar manufacturing value chain. As reported by reuters, the transaction will therefore consolidate Waaree’s solar manufacturing activities and strengthen its integrated approach to solar cell and module production.
