Waaree Energies Limited has signed a share purchase agreement to acquire a 100 per cent stake in Enel Green Power India Pvt Ltd (EGP India) from Enel Green Power Development S.R.L for Rs 7.92 billion.
EGP India operates a renewable energy platform with a net capacity of approximately 640 MW AC (760 MW DC), consisting of solar and wind projects. It also has a project pipeline of 2,500 MW across multiple states in India. The acquisition aims to bolster Waaree’s position as a leading renewable energy Independent Power Producer (IPP) and expand its project development pipeline. The acquisition is also expected to diversify Waaree’s revenue streams, enhance its wind energy capabilities, and accelerate its IPP business growth.