PVTIME – Indian solar manufacturer Waaree Energies has announced the acquisition of a 64% equity stake in power transformer producer Kotsons, adding it to its portfolio as a subsidiary.
Founded in 1979, Rajasthan-based Kotsons has over 40 years of experience in transformer manufacturing and an annual production capacity of 4,000MVA. The company currently manufactures transformers up to 35MVA (36kV) for the US and Canadian markets, holds UL certification, and plans to expand its product line to include 110kV/132kV/220kV equipment for both the US and Indian markets. Kotsons’ manufacturing capabilities will support Waaree in meeting the rising demand for transformers in both the domestic and international markets.
Hitesh Doshi, Managing Director of the Waaree Group, described transformers as critical enablers of solar and renewable energy infrastructure. He stated that Waaree’s entry into the transformer sector through Kotsons strategically extends its vision to deliver integrated, end-to-end energy solutions.
Doshi added that this integration will enable Waaree to supply solar modules alongside internationally certified transformers to clients in the US and around the world, thereby ensuring trust, reliability and sustainability on a large scale. For Waaree itself, the move will strengthen vertical integration and boost its global export capacity.
Headquartered in Mumbai, Waaree Energies has increased its annual solar module production capacity to 14.2GW. In late 2023, the company announced plans to expand into the US market through Waaree Solar Americas, committing up to $1 billion to increase its US capacity to 5GW by 2027.
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