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Waaree Expands Power Grid With ₹1,225 Cr Deal
26 Jan
Summary
- Waaree plans to acquire a majority stake in Associated Power Structures.
- The deal is valued at ₹1,225 crore for enhanced grid infrastructure.
- Completion of the acquisition is targeted by April 30, 2026.
Waaree Renewable Technologies Ltd has announced a significant strategic expansion, with its board approving a ₹1,225-crore deal to acquire a majority stake in Associated Power Structures Ltd (ASPL). This move signifies Waaree's transformation into an integrated energy transition company, extending its reach beyond generation to critical grid and transmission infrastructure.
The acquisition involves purchasing approximately 55 per cent of ASPL through a combination of primary and secondary investments. This is subject to the successful completion of due diligence and standard closing conditions.
Manmohan Sharma, CFO of Waaree Renewable Technologies Limited, stated that this acquisition is a pivotal step in the company's journey towards becoming a fully integrated energy transition entity, internally referred to as Waaree 2.0. ASPL's expertise and execution capabilities are seen as complementary to Waaree's existing renewable portfolio.
The company anticipates completing the acquisition by April 30, 2026, provided all agreed-upon conditions are met. Developing in-house transmission and distribution capabilities is expected to improve the certainty of project execution, optimize timelines, and strengthen the overall delivery process for utility-scale renewable projects.
