Waaree Renewable Technologies Ltd (WRTL), the renewable energy engineering, procurement, and construction (EPC) arm of Waaree Energies, has completed the acquisition of a 55% stake in Associated Power Structures Pvt Ltd (APSPL), strengthening its position across India’s energy infrastructure sector.
The acquisition was carried out after WRTL entered into a share purchase and subscription agreement in May 2026 to acquire a controlling stake in APSPL for ₹1,225 crore. Following the completion of the transaction, APSPL has become a subsidiary of Waaree Renewable Technologies Ltd.
In a stock exchange filing, WRTL confirmed that it has acquired the 55% equity stake through a combination of primary and secondary acquisitions. The primary acquisition involved the allotment of shares, while the secondary acquisition was completed through the transfer of existing equity shares.
Associated Power Structures Pvt Ltd is a specialised power transmission and telecom infrastructure EPC services provider. The company has in-house manufacturing facilities for lattice towers and steel structures, enabling it to provide integrated solutions for transmission infrastructure projects.
The acquisition marks an important step in Waaree Renewable Technologies’ strategy to expand its capabilities beyond renewable energy project execution and strengthen its presence in supporting infrastructure segments. Transmission infrastructure plays a crucial role in India’s energy transition, particularly as the country continues to add large-scale solar and wind power capacity.
With renewable energy projects increasing across different regions, the requirement for efficient power evacuation systems and grid connectivity has become a major focus area. The addition of APSPL’s expertise in transmission and infrastructure EPC is expected to support WRTL’s ability to participate in a wider range of energy projects.
The acquisition also reflects the growing trend among renewable energy companies to develop integrated capabilities covering project development, EPC execution, transmission solutions, and related infrastructure services.
Waaree Renewable Technologies has been actively expanding its renewable energy portfolio, while its parent company Waaree Energies is one of India’s major solar energy players. The integration of APSPL is expected to create operational synergies and provide new opportunities in India’s growing power infrastructure market.
The transaction aligns with India’s broader clean energy expansion plans, where strengthening transmission networks is essential for integrating renewable power into the national electricity grid.
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