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Waaree Renewable Technologies has approved the acquisition of a 55 per cent stake in Associated Power Structures Limited for INR 1,225 crore. The acquisition aligns with WRTL's plan to create an integrated energy platform encompassing renewable generation, EPC, and critical grid infrastructure. ASPL, founded in 1996, reported a turnover of INR 1,226.64 crore and a net worth of INR 339.53 crore in FY2024-25. The deal, advised by Singhi Advisors, will transform ASPL into a WRTL subsidiary, enhancing its capabilities to support large-scale renewable energy adoption and overall operational resilience.
Waaree Renewable Technologies (WRTL) recently announced that its board has approved the acquisition of a 55 per cent stake in Associated Power Structures Limited (ASPL) for INR 1,225 crore. The move is part of WRTL's long-term plan to establish an integrated platform across renewable generation, EPC, energy efficiency, and enabling infrastructure. The company believes this strategy will strengthen value creation, execution capabilities, and resilience across the clean energy ecosystem. Advertisement
Associated Power Structures, founded in 1996, is a prominent player in power transmission and distribution infrastructure, with a strong execution record in India and select international markets. For the financial year ending March 31, 2025, ASPL reported a turnover of INR 1,226.64 crore, including other income, and a net worth of INR 339.53 crore.
Once the transaction is completed, ASPL will become a subsidiary of Waaree Renewable Technologies. This acquisition marks a significant milestone in WRTL's evolution into a fully integrated energy transition company, expanding its capabilities beyond renewable generation into critical grid and transmission infrastructure a crucial factor for supporting large-scale renewable energy adoption.
Manmohan Sharma, CFO of Waaree Renewable Technologies, noted that the acquisition is a decisive step in the company's journey toward becoming a fully integrated energy transition entity, internally referred to as Waaree 2.0. The deal is expected to close by April 30, 2026, pending the completion of agreed conditions. Global M&A advisory firm Singhi Advisors served as the exclusive strategic and financial advisor to WRTL, playing a key role in structuring and advising on the transaction.
Source PTI
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