Hero Future likely to acquire Waaree Energies’s solar power assets

Hero Future Energies is likely to acquire solar power assets from Waaree Energies Limited. The value of the transaction is expected to be about Rs 5 to 5.5 billion. Currently, Waaree Energies has a 100 MW portfolio as an independent power producer (IPP), of which 50 MW and 25 MW is operational in Madhya Pradesh and Andhra Pradesh respectively. The projects are held as part of Waaneep Solar Private Limited, a public-private partnership between Waaree Energies and North Eastern Electric Power Corporation Limited (NEEPCO). The joint venture between Waaree and NEEPCO will however end after the sale of the solar projects.




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