The company was incorporated as ‘Waa Solar Private Limited’ under the provision of the Companies Act, 1956 vide certificate of incorporation dated November 9, 2009 issued by the Assistant Registrar of Companies, Maharashtra, Mumbai. The registered office of the company was shifted from Maharashtra State to Gujarat State and certificate was issued on September 12, 2013 by the Registrar of Companies, Gujarat, Dadara Nagar and Havelli. Consequent upon the conversion of the company to public limited company, the name of the company was changed to ‘Waa Solar Limited’ and fresh certificate of incorporation dated February 19, 2018 was issued by the Assistant ROC, Registrar of Companies, Ahmadabad.

The company was originally incorporated in the year 2009, at Mumbai and promoted by Hitesh Doshi and Viren Doshi. On May 8, 2010, the company was taken over by their corporate promoter Madhav Power (MPPL) with the intention entering into solar power projects in the state of Gujarat. MPPL is their promoter and holding company holds 3,419,982 Equity Shares constituting 70.03% of stake in their company.

Business area of the Company:

Waa Solar is mainly engaged in solar power generation by setting up Solar Power Project and by investing in Special Purpose Vehicle (SPV) associate and subsidiaries companies which are engaged in solar power generation activities.

Key Events and Milestones:

• November 09, 2009: Incorporated under Companies Act, 1956 as ‘Waa Solar Private Limited’.
• January 09, 2010: Management of the company was taken over by Madhav Power.
• May 21, 2010: 10 MW Power Purchase Agreement executed between the company & Gujarat Urja Vikas Nigam Limited (GUVNL) for Solar Power plants at Village: Nayka, Tal. Sami, District Patan in Gujarat.
• October 08, 2010: Supplemental Power Purchase Agreement executed between the company & Gujarat Urja Vikas Nigam Limited (GUVNL) for Solar Power Plants at Village: Tikar, Tal. Muli, District Surendranagar in Gujarat.
• February 27, 2012: Certificate of Commissioning received from Gujarat Energy Development Authority for Commissioned 10.25 MW capacity Solar Photovoltaic Power Project.
• January 30, 2013: 100 KW Power Purchase Agreement executed between Company & Airport Authority of India for Solar Power Plants at Raja Bhoj Airport, Bhopal.
• June 28, 2013: Certificate of Commissioning received from Airport Authority of India for Commissioned 100 KW capacity Solar Photovoltaic Power Project.
• August 13, 2013: Incorporation of 100% subsidiary company for implementation of 10MW Power Project in the state of Karnataka.
• September 3, 2013: Incorporation of subsidiary company for implementation of 4 MW Power Project in the state of Punjab.
• March 13, 2014: Incorporation of subsidiary company for implementation of 4 MW Rooftop Power Project in the state of Gujarat.
• June 7, 2016: Incorporation of subsidiary company for implementation of Power Project in the state of Karnataka
• February 19, 2018: Converted in to a Public Limited from Private Limited.