Newsletter
Waaree Renewable Technologies plans to broaden its footprint by expanding into data centers and battery energy storage systems, the company’s management told the Financial Express.
Waaree Renewable Technologies builds and maintains solar power projects, offering Engineering Procurement, and construction (EPC), O&M, and battery storage solutions as part of India’s clean energy push.
What’s happening: the expansion aligns with the company’s strategy to move beyond traditional solar EPC and into the broader clean energy infrastructure ecosystem.
Now, if it ventures into data centers and energy storage, it will integrate power generation with energy reliability, tapping into two high-growth, energy-intensive sectors. Currently, Waaree Renewable Technologies has an order book of 3.4 gigawatts, which it aims to execute within the next 12-15 months.
As part of its growth plans, the company will set up two solar power plants in Maharashtra, each producing 14 megawatts of electricity.
FYI: Waaree Renewable recently posted strong Q2 results, driven by robust project execution and higher margins.
Big theme: India’s battery energy storage systems market is expected to reach $2,322 million by 2033, exhibiting a growth rate of 25.8% during 2025-2033. If Waaree enters this market, it could also diversify its revenue streams, reduce dependency on EPC contracts, and position it as a complete clean energy provider rather than just a solar developer.
imarc
