, the solar EPC arm of Waaree Energies, has completed its ₹1,225 crore acquisition of a 55 per cent stake in Associated Power Structures Pvt Ltd (APSPL), marking one of its largest strategic investments and expanding its presence into transmission infrastructure.
With the completion of the primary and secondary transactions, APSPL has become a subsidiary of WRTL. “The completion of the APSPL acquisition marks a defining milestone in WRTL’s growth journey. This ₹1,225 crore investment reflects our confidence in the long-term opportunities emerging from India’s energy transition and our commitment to building an integrated renewable energy and infrastructure platform,” Viren Doshi, Director, WRTL, stated in an official release on Saturday.
The company said the integration is expected to improve project execution capabilities and accelerate delivery of transmission and evacuation infrastructure, which has emerged as a critical requirement for large-scale renewable energy deployment.
APSPL brings nearly three decades of expertise in the conceptualisation, fabrication and EPC execution of galvanised transmission and telecom towers, along with experience in transmission line and windmill erection projects.
The company also has an established customer base among utilities and power developers.