Waaree Energies Acquires Enel Green Power India For Rs 792 Cr
Waaree Energies signs agreement to acquire 100 per cent stake in Enel Green Power India, expanding its renewable energy footprint and strengthening its IPP business
Waaree Energies has signed the acquisition agreement of the entire equity stake in Enel Green Power India Pvt (EGPIPL) for up to Rs 792 crore. The deal, finalized on January 10, 2025, marks a significant step in Waaree Energies’ strategy to strengthen its renewable energy portfolio.
EGPIPL, a subsidiary of Enel Green Power, is one of India’s prominent players in the solar and wind energy sector, with a portfolio consisting of approximately 640 MWAC (760 MWDC) of operational and under-development projects. The operational assets include projects in joint ventures, where EGPIPL holds the majority stake.
With the completion of this acquisition, EGPIPL will now operate as a subsidiary of Waaree Energies. The acquisition is expected to enhance Waaree Energies’ capabilities in executing wind projects, diversify its revenue streams, and support the accelerated growth of its Independent Power Producer (IPP) business.
This move positions Waaree Energies to tap into a growing renewable energy market, further cementing its role as a leading player in India’s clean energy transition.
