New Delhi, Jan 26 (PTI) Waaree Renewable Technologies (WRTL) on Monday said that its board has approved the acquisition of a 55 per cent stake in Associated Power Structures for Rs 1,225 crore.
The transaction aligns with WRTL’s long-term strategy of building an integrated platform spanning renewable generation, EPC, energy efficiency, and enabling infrastructure, thereby enhancing value creation, resilience, and execution capability across the clean energy ecosystem, a company statement said.
Founded in 1996, Associated Power Structures Limited is a well-established company in the power transmission and distribution infrastructure space, with a strong execution track record across India and select international markets.
For the financial year ended March 31, 2025, ASPL reported a turnover (including other income) of Rs 1,226.64 crore and a net worth of Rs 339.53 crore.
Upon completion of the transaction, ASPL will become a subsidiary of Waaree Renewable Technologies Limited. This acquisition represents a strategic milestone in Waaree’s transformation into an integrated energy transition company, strengthening its capabilities beyond generation into critical grid and transmission infrastructure—a key enabler of large-scale renewable energy adoption.
Manmohan Sharma, CFO, Waaree Renewable Technologies, said in the statement, “This acquisition is a decisive step forward in Waaree’s journey towards becoming a fully integrated energy transition company—what we internally call Waaree 2.0."
The acquisition is expected to be completed by April 30, 2026, subject to the fulfilment of agreed conditions. Global M&A advisory firm Singhi Advisors acted as exclusive strategic & financial advisor to Waaree Renewable Technologies Limited and played a key role in structuring and advising on the transaction.