WRTL Completes Rs. 1,225-Cr Acquisition of APSPL, Strengthens Energy Infrastructure Portfolio
New Delhi, June 20 (TNT): Waaree Renewable Technologies Limited (WRTL), a leading solar EPC and renewable energy solutions provider and subsidiary of Waaree Energies Limited, on Saturday announced the completion of its acquisition of a 55 per cent stake in Associated Power Structures Private Limited (APSPL) for ₹1,225 crore.
Following the completion of both primary and secondary transactions, APSPL has become a subsidiary of WRTL.
The acquisition marks one of WRTL’s most significant strategic investments and is aimed at strengthening its position across the renewable energy value chain as India accelerates its energy transition under the Viksit Bharat 2047 vision.
With the transaction, WRTL expands its presence beyond renewable energy generation into critical transmission and evacuation infrastructure, enabling the company to offer more integrated solutions for large-scale clean energy projects.
APSPL brings nearly three decades of expertise in the conceptualisation, fabrication and EPC contracting of galvanised transmission and telecom towers.
The company has a strong track record in transmission and windmill erection projects across India and maintains established relationships with major power utilities and infrastructure developers.
In a release, the company said APSPL’s capabilities are expected to enhance WRTL’s execution capacity and facilitate faster deployment of transmission and evacuation infrastructure, a key requirement for scaling up renewable energy capacity in the country.
The acquisition is also expected to provide customers with a broader range of services, improved project integration, greater execution efficiency and a single-point solution provider for complex energy infrastructure projects.
Commenting on the development, WRTL Director Viren Doshi described the acquisition as a defining milestone in the company’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. APSPL’s capabilities complement our existing strengths and position us to create greater value for customers while advancing the Waaree 2.0 vision of becoming a future-ready clean energy solutions ecosystem,” he said.
APSPL Founder and Director Ajay Patel said joining the Waaree ecosystem would enable the company to undertake larger infrastructure projects while continuing to leverage its expertise in transmission tower fabrication and EPC execution.
“As part of WRTL, we gain the scale, capital backing and integrated platform needed to take on larger, more ambitious infrastructure projects. We look forward to contributing to WRTL’s vision of building a future-ready clean energy and infrastructure ecosystem for India,” he said.
The acquisition aligns with Waaree 2.0, the group’s strategic vision of transforming from a manufacturing-focused organisation into an integrated clean energy and infrastructure platform.
The company said the move would help create long-term value through enhanced execution capabilities, deeper customer engagement and expanded participation across the renewable energy value chain.
With India’s demand for integrated power generation, transmission and supporting infrastructure continuing to rise, WRTL said the acquisition reinforces its commitment to supporting the country’s clean energy ambitions and large-scale renewable energy deployment.
TNT KS
