Waaree Expands Into Transmission With Rs 12.25 Billion Deal

30 Jan 2026 CW Team

In a regulatory filing, the company said its Board of Directors has approved a binding term sheet to acquire approximately 55 per cent stake in ASPL through a combination of primary and secondary investments. The transaction is subject to due diligence and customary closing conditions.

Waaree described the acquisition as a strategic milestone in its evolution into an integrated energy transition company. By entering the transmission and grid infrastructure space, the company aims to strengthen its capabilities beyond power generation, addressing a critical bottleneck in scaling up renewable energy deployment.

Founded in 1996, ASPL operates in the power transmission and distribution segment within the infrastructure sector. As of March 2025, the company reported a net worth of Rs 3.39 billion and a turnover of Rs 12.26 billion.

Commenting on the acquisition, Manmohan Sharma, Chief Financial Officer of Waaree Renewable Technologies Ltd, said the transaction represents a decisive step in the company’s transformation into a fully integrated energy transition platform. He noted that ASPL’s domain expertise, execution capabilities and proven track record complement Waaree’s renewable portfolio and support its internal strategic vision, referred to as “Waaree 2.0”.

The acquisition is expected to be completed by April 30, 2026, subject to the fulfilment of agreed conditions. Waaree said that developing in-house transmission and distribution capabilities will enhance execution certainty, optimise project timelines and strengthen end-to-end delivery for utility-scale renewable energy projects.

Waaree Renewable Technologies Ltd has approved a major expansion beyond renewable power generation, with its board clearing a deal worth Rs 12.25 billion to acquire a majority stake in power transmission company Associated Power Structures Ltd (ASPL). In a regulatory filing, the company said its Board of Directors has approved a binding term sheet to acquire approximately 55 per cent stake in ASPL through a combination of primary and secondary investments. The transaction is subject to due diligence and customary closing conditions. Waaree described the acquisition as a strategic milestone in its evolution into an integrated energy transition company. By entering the transmission and grid infrastructure space, the company aims to strengthen its capabilities beyond power generation, addressing a critical bottleneck in scaling up renewable energy deployment. Founded in 1996, ASPL operates in the power transmission and distribution segment within the infrastructure sector. As of March 2025, the company reported a net worth of Rs 3.39 billion and a turnover of Rs 12.26 billion. Commenting on the acquisition, Manmohan Sharma, Chief Financial Officer of Waaree Renewable Technologies Ltd, said the transaction represents a decisive step in the company’s transformation into a fully integrated energy transition platform. He noted that ASPL’s domain expertise, execution capabilities and proven track record complement Waaree’s renewable portfolio and support its internal strategic vision, referred to as “Waaree 2.0”. The acquisition is expected to be completed by April 30, 2026, subject to the fulfilment of agreed conditions. Waaree said that developing in-house transmission and distribution capabilities will enhance execution certainty, optimise project timelines and strengthen end-to-end delivery for utility-scale renewable energy projects.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

Infrastructure Urban

06 Apr 2026

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

Infrastructure Energy

06 Apr 2026

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..