21-05-2025
- Business
- Business Standard
Waaree Renewable Tech incorporates WOS, Sunsational Power
Waaree Renewable Technologies announced that it has incorporated a wholly owned subsidiary (WOS), Sunsational Power, to develop and manage renewable energy plants.
The subsidiary has been incorporated to generate, accumulate, transmit, distribute, purchase, sell and supply electricity power or any other energy from non-conventional energy sources on a commercial basis. It will also construct, establish, operate, and maintain energy generation stations and plants across the country.
In addition, the company will engage in managing, owning, controlling, erecting, commissioning, operating, running, leasing or transferring to third person/s, Power plants based on non-conventional energy sources i.e. Solar, Wind, Mechanical, Electrical and Hydel. It will also act as an Engineering, Procurement, and Construction (EPC) contractor for such power projects.
Sunsational Power will also setup solar parks and renewable energy systems anywhere in India.
The company has subscribed to a share capital of Rs 1 lakh, divided into 10,000 shares of Rs 10 each, holding a 100% stake in Sunsational Power Private. However, certificate of incorporation is awaited.
Waaree Renewable Technologies (WRTL) is subsidiary company of Waaree Group and spearheading the Solar EPC business. The company provides clean energy to its clients by setting up both on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open access solar plants).
The companys consolidated net profit jumped 82.7% to Rs 93.81 crore on 74.4% increase in revenue from operations to Rs 476.58 crore in Q4 FY25 over Q4 FY24.
The scrip declined 2.10% to end at Rs 1,021.55 on Tuesday, 20 May 2025.
