Waaree Renewable Technologies board okays acquisition of 55pc stake in Associated Power Structures for Rs 1225 cr

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.

(This story has not been edited by THE WEEK and is auto-generated from PTI)