Waaree Energies Limited has signed an agreement to acquire 100 per cent of Enel Green Power India Pvt Ltd (EGP India) from Enel Green Power Development S.R.L. The acquisition is valued at Rs 7.92 billion, subject to customary closing adjustments.
EGP India operates a renewable energy platform with a net capacity of approximately 640 MW AC (760 MW DC), consisting of solar and wind projects. It also has a project pipeline of 2,500 MW across multiple states in India. The acquisition aims to bolster Waaree’s position as a leading renewable energy Independent Power Producer (IPP) and expand its project development pipeline. The acquisition is also expected to diversify Waaree’s revenue streams, enhance its capabilities in wind energy, and accelerate the growth of its IPP business.
Strategic and technical support for the transaction was provided by Ambit Private Limited, Sarthak Law, and TUV SUD. Enel Green Power’s decision to sell EGP India aligns with its strategy to optimise its asset portfolio and focus on core geographies with integrated energy markets. The deal remains subject to customary conditions precedents.
