Waaree Engeries Ltd: With its main office located in Mumbai, India, Waaree Energies Limited was established in the year 1990. With plants in Gujarat’s Surat, Chikhli, Nandigram, and Tumb, Waaree has the biggest installed capacity in India as of June 30, 2024, with a total of 12 GW. In this article we will learn about the company that Waaree Energy fully acquired.
About Enel Green Power
Around the world, there are renewable energy facilities of EGP, and not many are aware of this fact. By consistently pushing the limits of technology and increasing stakeholder knowledge, they are attempting to establish new benchmarks in energy sustainability.
| Founded | 2008 (December) |
| Serves In | 5 continents |
In order to develop and oversee power produced from renewable resources globally, Enel Green Power was established with a motive to supervise development efforts in five additional countries and have assets operating in almost nineteen nations. A variety of renewable resources, including wind, solar, hydropower, and geothermal, have contributed to their 64.7 GW of renewable capacity installed. As one of the top renewable energy firms in the world, they are contributing significantly to the energy transformation with a goal to usher in an era of decarbonized, sustainable energy for all.
Additionally, EGP is among the founding members of RES4MED, an organization founded in 2012 with the goal of advancing renewable energy sources and the infrastructure required to supply electricity across the Mediterranean region.
Waaree Energy’s Expanded Portfolio
Waaree Energies said in a statement that the acquisition will strengthen its development concerning the pipeline project and build on its recent successes, which include a sizable utility auction victory in Madhya Pradesh. According to Waaree Energies, the acquisition may place the Mumbai-based manufacturer of solar modules among the top generators of electricity in India’s quickly expanding renewable energy market.
What Benefits Waaree Energies Has from this Deal?
Apart from project pipeline expansion and significant capacity addition, Waaree Energies will enjoy several benefits from this deal. Some of them are given below:
- Market Leadership: With this acquisition, Waaree Energies Ltd. will now be a market leader in India’s renewable energy sector, which also improves their reputation and brand image.
- Diversified Offering: By expanding their offering beyond solar modules, Waaree Energies will now be able to provide clients with a greater selection of renewable energy options.
- Increased Expertise: EGP India will enhance Waaree Energies Ltd.’s capabilities in solar and wind energy by contributing significant experience in the development, management, and operation of its projects.
Conclusion
The acquisition of EGP by Waaree Energies is a solid strategic move that will facilitate its growth prospects in the coming future. Investors are overjoyed with this deal, and Waaree Energies is all set to make it official.
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