Waaree Energies Group appoints new CIO

Waaree Energies Group has appointed Avadhut Parab as the chief information officer (CIO). Waree Group operates in the renewable energy sector with special focus on solar manufacturing capability. The company offers engineering, procurement, and construction (EPC) services.

Commenting on his appointment, Parab said that he is excited about the “possibilities that lie ahead and the transformative impact” by using technology and leveraging digitisation, as per an Express Computer report. Parab is an industry veteran with an experience of close to three decades. In his last held position, he was the chief information officer at Parle Agro where he served for two years. He has also worked for companies like Wockhardt, Atos, and Unichem. Parab also holds a doctorate in management research, along with an MBA.

In a separate but related news, the India-based solar panel maker announced in December 2023 that it has filed for an initial public offering, aiming to raise $361 million to cash in on a stock market. As per Reuter’s report on December 29, Waaree’s IPO will include the sale of 3.2 million shares, including up to 2.7 million shares by Waaree Sustainable Finance, an energy equipment maker and Waaree Energies' largest shareholder. Waaree Energies also said that it would sell an unspecified number of new shares to raise ₹30 billion. A part of this capital will be utilised to fund a planned 6 gigawatt (GW) manufacturing facility in the eastern Indian state of Odisha, the company said in its filing.