Waaree Energies Limited has completed the acquisition of 100 per cent equity stake in Kamath Transformers Private Limited and Green New Delhi Forever Energy Private Limited.
The acquisition of Kamath Transformers was undertaken at an approximate cost of Rs 2.93 billion as part of Waaree’s business expansion into the transformer manufacturing segment. Separately, Waaree Forever Energies Private Limited, a wholly owned subsidiary of Waaree Energies, has acquired 100 per cent equity in Green New Delhi Forever Energy Private Limited, a newly incorporated non-operating entity. This acquisition is intended to facilitate and hold specific power projects under the independent power producer framework.