Waaree Renewable Technologies acquires 55% stake in Associated Power Structures for INR 1,225 crore

Type: Acquisition · Technology: Transmission · Country: India · Value: INR 147M · Announced: 2026-05-08

Waaree Renewable Technologies, the renewable energy EPC arm of Waaree Energies, completed the acquisition of a 55% stake in Associated Power Structures for INR 1,225 crore (approximately $147 million). The transaction transforms Associated Power Structures into a subsidiary of Waaree Renewable Technologies, expanding its infrastructure portfolio. Associated Power Structures specializes in power transmission and telecom infrastructure EPC services, with in-house manufacturing capabilities for lattice towers and steel structures. The deal strengthens Waaree Renewable Technologies' vertical integration in renewable energy value chains, particularly in grid and telecom infrastructure. Following the acquisition, Waaree Renewable Technologies gains direct control over Associated Power Structures' manufacturing and EPC operations. The transaction was executed through a Share Purchase and Subscription Agreement, as disclosed in a stock exchange filing.

Counterparties

Source article