Waaree Energies Limited has strengthened its renewable energy project development strategy with the incorporation of a new indirect wholly-owned subsidiary, EcoFlux Renewables Private Limited, aimed at supporting Independent Power Producer (IPP) projects.
The company disclosed the development to stock exchanges in line with regulatory requirements. EcoFlux Renewables has been incorporated through Waaree Forever Energies Private Limited (WFEPL), which is itself a wholly-owned subsidiary of Waaree Energies. As a result, EcoFlux Renewables becomes an indirect wholly-owned subsidiary of the parent company.
Registered with the Registrar of Companies, Mumbai, EcoFlux Renewables has been established specifically to facilitate, own, and manage power generation projects under the IPP framework. The move reflects Waaree Energies’ growing focus on expanding its footprint beyond manufacturing into renewable energy asset ownership and long-term power generation.
As the entity has been newly incorporated, EcoFlux Renewables has not yet commenced commercial operations and currently reports nil turnover, which is standard at this stage of development.
Waaree Energies confirmed that the incorporation complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also clarified that the transaction does not involve related party considerations and does not require any additional government approvals.
The creation of EcoFlux Renewables marks a strategic step in enhancing Waaree Energies’ corporate structure to support its long-term renewable energy ambitions, particularly in IPP-led solar and clean power projects across India.
