Waaree Renewable Technologies Limited is set to acquire a 55 per cent equity stake in Associated Power Structures for Rs 12.25 billion.
Upon completion, Associated Power Structures will become a subsidiary of Waaree Renewable Technologies. The acquisition is aimed at strengthening Waaree’s in-house transmission and distribution capabilities and optimise project timelines and support delivery of utility-scale renewable energy projects.
The acquisition of Associated Power Structures will complement Waaree’s renewable portfolio by adding transmission and distribution execution expertise and expanding its end-to-end project delivery capabilities.