Date: September 3, 2026
Board Meeting Outcomes
- The Board of Directors meeting was held on September 3, 2026, commencing at 6:30 p.m. (IST) and concluding at 7:16 p.m. (IST)
- The Board granted in-principle approval for setting up a 10 MWp (DC) ground-mounted captive solar power plant in Karnataka
- Implementation is subject to satisfactory completion of due diligence and receipt of requisite consents and approvals
Project Details
- Capacity: 10 MWp (DC) ground-mounted solar power plant
- Location: Karnataka
- Expected commissioning: FY27 (targeted by Q1 2027)
- Expected annual generation: 15-16 million units of clean electricity
- Design life: 25 years
- Distribution: 80% for WeWork India operations, 20% for future growth
Strategic Impact
- Will power 10 WeWork India centers in Bengaluru
- Increase renewable electricity share across portfolio from current ~40% to approximately 50%
- Supports company's goal of transitioning to 100% renewable electricity by March 2028
- Bengaluru represents WeWork India's largest market with 30 operational centers
- Karnataka accounts for approximately 30% of company's total electricity consumption
Business Rationale
- Reduce electricity costs and create long-term cost certainty
- Provide electricity at more competitive cost over asset life
- Insulate portfolio from fluctuations in grid tariffs
- Combine owned renewable generation, captive consumption and open access for diversified energy sourcing
- Support sustainability objectives and reduce carbon footprint
Company Background
- Industry leader in flexible workspace sector
- Operates 79 centers across 9.1 million sq. ft. in eight cities (Bengaluru, Mumbai, Gurugram, Pune, Hyderabad, Chennai, Noida and New Delhi)
- Serving over 113,000 members
- Listed on NSE and BSE in FY26