Waaree Energies to acquire 100% stake in Enel Green Power India
Author: PPD Team Date: 14/01/2025
Waaree Energies Limited has signed an agreement to acquire 100% of Enel Green Power India Pvt Ltd (EGP India) from Enel Green Power Development S.R.L.
The acquisition, valued at Rs 7.92 billion, is subject to customary closing adjustments. EGP India operates a renewable energy platform with a net capacity of approximately 640 MW AC (760 MW DC) and a project pipeline of 2,500 MW across multiple states in India.
This acquisition will strengthen Waaree’s position as a leading renewable energy Independent Power Producer (IPP), expand its project development pipeline, and diversify its revenue streams. It will also enhance its wind energy capabilities and accelerate its IPP business growth.
Ambit Private Limited, Sarthak Law, and TUV SUD provided strategic and technical support. Enel Green Power’s selling decision aligns with its strategy to optimise its asset portfolio and focus on core geographies.