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Waaree Energies is set to acquire a 64% stake in transformer maker Kotson’s for ₹192 crore, turning it into a subsidiary.
Kotson designs and supplies transformer solutions with a plant capacity of 4,000 MVA.
Kotson’s plant can make transformers powerful enough to handle electricity for lakhs of homes and factories, with a total capacity of 4,000 MVA.
Alongside, Waaree will also take over 100% of Impactgrid Renewables, a non-operational step-down subsidiary, from its unit Waaree Forever Energies.
Why Kotson’s: Waaree builds solar panels and large solar projects, having transformers in-house means smoother integration from generation to transmission. It cuts reliance on outside suppliers & Kotson helps Waaree plug a critical gap in the solar value chain and strengthens its position in the broader renewable power ecosystem.
Why it matters: transformers are critical for moving electricity from solar plants to the grid, and owning this capability means Waaree can control more of its supply chain, cut costs, and ensure quality. The move expands Waaree’s footprint beyond just solar panels into the wider power transmission and distribution industry, positioning it as a more integrated clean energy player.
Zoom out: India’s transformer industry is tightly linked to the country’s power sector growth. Every time new power capacity, whether coal, solar, wind, or hydro is added, transformers are needed to move electricity efficiently from generation plants to the grid and finally to consumers.
The Indian market is valued at over ₹20,000 crore and growing steadily, driven by rising electricity demand, renewable energy projects, and grid modernisation.
