Waaree Power to acquire 76% stake in Racemosa Energy

Waaree Power Private Limited, a subsidiary of Waaree Energies Limited, has approved the acquisition of a 76 per cent equity stake in Racemosa Energy (India) Private Limited. 

The deal is subject to definitive agreements, regulatory clearances, and standard closing conditions.

Racemosa Energy, incorporated in 2018 in Maharashtra, manufactures smart meters. Waaree Energies stated that the acquisition will help integrate smart metering into its portfolio and broaden its presence across the energy value chain beyond solar module manufacturing.