Waaree Energies has announced a planned CEO transition, with current CEO Amit Paithankar set to step down and be succeeded by Jignesh Rathod
A long-timer with the group, Rathod currently serves as Director–Operations, and is credited by the board for scaling manufacturing capacity and improving operational efficiency
The board said the internal succession plan supports continuity, stability, and long-term growth
Indian solar PV manufacturing company Waaree Energies Ltd. (WEL) is preparing for a Chief Executive Officer (CEO) transition following the resignation of the incumbent, Amit Paithankar. He will be replaced by Jignesh Rathod.
The CEO-Designate, Jignesh Rathod, has been working with WEL since November 28, 2007. In his present capacity as Director-Operations, Rathod oversees the company’s end-to-end operations across its manufacturing facilities. The board credits him with playing a pivotal role in scaling production capacities, operational efficiencies, and supporting the expansion activities of the manufacturer.
“The Board noted that this well-planned internal succession ensures leadership continuity, operational stability, and strategic momentum, and reaffirms the Company’s commitment to strong governance, long-term value creation, and sustainable growth for all stakeholders,” stated the manufacturer in a stock exchange filing.
As of September 30, 2025, WEL’s manufacturing capacity totaled 18.7 GW for solar modules and 5.4 GW for cells, comprising 16.1 GW in India and 2.6 GW in the US. It plans to add another 6 GW of wafer, cell, and module manufacturing capacity to its portfolio as one of the beneficiaries of India’s Production Linked Incentive (PLI) scheme (see Waaree Energies Reports 70% YoY Increase In Q2 FY26 Total Income).
WEL is also expanding horizontally, having set up 2 solar inverter manufacturing lines with 1.525 GW capacity each, totaling 3.05 GW at its Sarodhi-Valsad, Gujarat location. This fab entered commercial operations on December 29, 2025.
Recently, its subsidiary Waaree Energy Storage Solutions Pvt Ltd raised INR 10.03 billion from strategic investors for its planned 20 GWh advanced lithium-ion cells and battery pack manufacturing facility.
Paithankar plans to stay on till May 15, 2026, and work with Rathod to ensure a smooth transition. He is leaving his position of CEO and Wholetime Director to join Saarv Solutions Private Limited as a Co-Founder.
Paithankar joined the company in 2024, when he switched over from ReNew, where he was the Group President (see New Chief Executive Officer For India’s Waaree Group).
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