en.Wedoany.com Reported - Waaree Renewable Technologies Limited (WRTL), the engineering, procurement, and construction arm of Waaree Energies, has acquired a 55% stake in Associated Power Structures Private Limited (APSPL) for INR 12.25 billion ($129 million) through a combination of primary and secondary transactions.

APSPL's business encompasses the manufacturing and EPC contracting of galvanized transmission towers and telecom towers, undertaking transmission and wind turbine installation projects across India. The company provides infrastructure services to power utilities and renewable energy developers.

Viren Doshi, Director of WRTL, stated that as project scale and complexity increase, customers need partners capable of providing integrated solutions. APSPL's capabilities complement WRTL's existing strengths and help advance the "Waaree 2.0" vision of building a future-ready clean energy solutions ecosystem. WRTL noted that the acquisition expands its participation in the energy value chain, particularly in transmission and power evacuation infrastructure, capabilities critical for integrating new renewable energy capacity into the grid. As power evacuation and grid connection delays have become bottlenecks for India's renewable energy deployment, the integration is expected to strengthen WRTL's execution capabilities in transmission infrastructure.

APSPL brings an existing order book and established customer relationships with utilities and developers, resources that WRTL plans to combine with its own EPC business.

This acquisition is the latest step in Waaree's strategy under the "Waaree 2.0" initiative to build an integrated clean energy platform, aiming to expand its business from solar manufacturing into power infrastructure and energy technology. In September 2025, Waaree Energies acquired a 64% stake in Indian transformer manufacturer Kotsons, planning to develop higher voltage products for the Indian and North American markets. Earlier, in January 2025, Waaree agreed to acquire Enel Green Power India, the Indian subsidiary of Italian utility Enel, for up to INR 7.92 billion ($91 million), to expand its independent power producer business and diversify revenue sources.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com