Waaree Energies, headquartered in Mumbai, had announced an INR 3,500 crore (~ $385 million) acquisition of Enel Green Power India, structured with INR 792 crore (~ $87 million) in cash and assumption of debt. The acquisition was planned to diversify Waaree Energies’ solar-focused portfolio by adding operational wind assets into its holdings. Enel Green Power India was operating 640 MW of renewable capacity and was a subsidiary of Rome-based Enel, which was exiting India. According to Waaree Energies, disputes over unmet conditions have delayed the transaction and created uncertainty regarding its completion. Waaree Energies with 13.3 GW solar module capacity, has reaffirmed FY26 EBITDA guidance of INR 5,500 to 6,000 crore (~ $605 to 660 million). While the acquisition process was unsettled, Waaree Energies has continued to prioritize its domestic manufacturing base and has focused on meeting local market demand. Several European utilities, including Statkraft and Fortum, were recently withdrawn from India’s renewable sector.