Waaree Energies Limited has officially entered the transformer business with a strategic majority acquisition of Kotsons Private Limited.
Waaree Energies has acquired a 64% equity stake in Kotsons through a primary capital infusion of approximately ₹192 crores, making the transformer manufacturer its subsidiary.
The capital will be used to significantly expand Kotsons’ manufacturing capacity, allowing the company to meet the growing domestic and global demand for transformers.
Established in 1979, Kotsons brings over four decades of expertise to the partnership and holds UL certifications that will facilitate exports to the USA and Canada, aligning with Waaree’s expanding international presence.
For customers, this acquisition means a more comprehensive offering, combining Waaree’s solar modules with Kotsons’ transformers to provide a full-spectrum solution for power generation, transmission, and distribution. The move also strengthens Waaree’s vertical integration, enhancing control over its supply chain, technology, and quality.
The acquisition comes as India’s power infrastructure sector is poised for significant growth. The country’s transformer market is expected to reach a value of $5–6 billion by 2030, driven by emerging sectors such as green hydrogen, EV charging, and data centers.
Dr. Hitesh Doshi, Chairman & Managing Director, Waaree Group, said, “Transformers are a critical enabler in solar projects and renewable energy infrastructure, ensuring reliable grid integration and efficient power distribution.”
“As Waaree expands its leadership in solar manufacturing, entering the transformer business through Kotsons is a natural extension of our vision to provide integrated, end-to-end energy solutions,” he said.
