The Board of Directors of Waaree Renewable Technologies Limited (WRTL) has approved entering into a binding term sheet for the acquisition of approximately 55% stake in Associated Power Structures Limited (ASPL), for a total consideration of ~INR 1,225 crore, through a mix of primary and secondary investment, subject to completion of due diligence and customary closing conditions.
Associated Power Structures Limited is a well-established company in the power transmission and distribution infrastructure space, with a strong execution track record across India and select international markets. For the financial year ended March 31, 2025, ASPL reported a turnover (including other income) of INR 1,226.64 crore and a net worth of INR 339.53 crore. Upon completion of the transaction, ASPL will become a subsidiary of Waaree Renewable Technologies Limited.
This acquisition represents a strategic milestone in Waaree’s transformation into an integrated energy transition company, strengthening its capabilities beyond generation into critical grid and transmission infrastructure – a key enabler of large-scale renewable energy adoption.
