Indian solar manufacturer Waaree Energies has acquired a 64% equity stake in power transformer manufacturing company Kotsons.
According to the firm, Kotsons’ manufacturing capacity will help meet growing domestic and international demand for transformers. The acquisition effectively brings the company under Waaree’s fold as a subsidiary.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Founded in 1979, Rajasthan-based Kotsons has over 40 years of transformer manufacturing experience with a 4,000 megavolt-amperes (MVA) capacity. It currently produces transformers up to 35 MVA 36kV with UL certification for the US and Canada, and plans to expand into 110kV/132kV/220kV units for the US and Indian markets.
Dubbing transformers as “a critical enabler in solar and renewable energy infrastructure”, Hitesh Doshi, managing director at Waaree Group, said: “Waaree’s entry into the transformer business through Kotsons is a strategic extension of our vision to provide integrated, end-to-end energy solutions.”
“For our customers in the US and globally, this integration means access to solar modules and internationally certified transformers, delivering trust, reliability and sustainability at scale. For Waaree, it strengthens our vertical integration, enhances global exporting capabilities,” he added.
Mumbai-headquartered Waaree Energies has increased its annual solar module capacity to 14.2GW. In late 2023, the firm unveiled US expansion plans under Waaree Solar Americas, committing up to US$1 billion to scale capacity there to 5GW by 2027.
