Waaree Energies Limited — Important, 10-01-2025: General Updates

Waaree Energies Ltd. has entered into a Share Purchase Agreement to acquire 100% of Enel Green Power India Private Limited (EGPIPL) for a total consideration of up to INR 792 Cr, subject to customary closing adjustments. EGPIPL, a subsidiary of one of Europe's largest renewable energy firms, owns operational solar and wind projects totaling approximately 640 MW AC / 760 MW DC, with additional development projects underway. This acquisition is expected to diversify Waaree's revenue streams and strengthen its capabilities in executing wind projects, contributing to the accelerated growth of its Independent Power Producer (IPP) business. The deal is anticipated to close within three months, pending necessary approvals. With EGPIPL's recent turnover of INR 112 Cr in FY24, increasing from INR 129 Cr in FY22, this acquisition appears poised to enhance Waaree's market positioning significantly. Investors should consider the positive outlook stemming from this strategic move, which aligns with Waaree's growth ambitions in the renewable energy sector.