India-based Waaree Energies has agreed to acquire Enel Green Power India Pvt Ltd (EGPIPL) for up to INR 792 crore (~$84.57 million), subject to adjustments. EGPIPL, part of a major European renewable energy company, operates 640 MW (AC) (760 MW (DC)) of solar and wind projects in India, including jointly owned assets. Upon completion, EGPIPL will become a subsidiary of Waaree, diversifying its revenue, enhancing wind project execution, and expanding its Independent Power Producer (IPP) business. The deal is expected to close within three months, subject to agreed conditions.
EGPIPL to join Waaree, adding 640 MW renewable capacity for INR 792 crore
EGPIPL to become Waaree’s subsidiary, diversifying revenue, enhancing wind project execution, and expanding its Independent Power Producer business. (Image Credit/Source: Kelly/Pixabay)
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