WeWork India Management shares gained around 3% to Rs 674.65 on the NSE on Friday after the company announced plans to develop a 10 MWp captive solar power plant in Karnataka. 

The move attracted investor attention as the flexible workspace operator looks to reduce electricity costs and increase its use of renewable energy. The company’s board gave in-principle approval for the ground-mounted solar project on September 3. 

The plant is targeted for commissioning in FY27 and is expected to generate around 15 to 16 million units of clean electricity every year. WeWork India said the project is part of its plan to move towards 100% renewable electricity by March 2028.

Once operational, the solar plant is expected to increase the share of renewable electricity in WeWork India’s portfolio from around 40% currently to nearly 50%. Around 80% of the electricity generated will be used for the company’s operations, including 10 centres in Bengaluru, while the remaining 20% will support future growth.

The project is particularly relevant for Bengaluru, which is WeWork India’s largest market with 30 operational centres. Karnataka accounts for nearly 30% of the company’s total electricity consumption, making renewable power an important part of its efforts to manage long-term energy costs.

The solar project also comes at a time when investors are tracking WeWork India’s ability to improve operating efficiency while expanding its flexible workspace network. The company reported Rs 2,440 crore revenue in FY26 and generated around Rs 1,137 crore in free cash flow, according to recent financial data.

At around 3:09 pm, WeWork India shares were trading at about Rs 664.10, up 1.44% from the previous close of Rs 654.70. The stock had moved between Rs 659.25 and Rs 679.90 during the session.

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