Waaree Group acquires 55 per cent stake in Associated Power Structures for Rs.1,225 crore
- June 23, 2026
Waaree Renewable Technologies Ltd, a subsidiary of Waaree Energies Ltd, has announced the successful completion of its acquisition of a 55 per cent stake in Associated Power Structures Ltd (APSL) for Rs.1,225 crore, pursuant to the completion of primary and secondary transactions.
Consequent to the acquisition, APSL has become a subsidiary of WRTL, a release by WRTL said.
Three decades of experience
APSL brings nearly three decades of specialised expertise in conceptualisation, fabrication and EPC contracting of galvanized transmission and telecom towers, with a strong track record in transmission and windmill erection projects across India. Backed by a healthy order book and established relationships with leading power utilities and developers, APSPL adds scaled execution capabilities to WRTL’s platform. The integration is expected to enable faster turnaround on transmission and evacuation infrastructure, a critical enabler for large-scale renewable capacity addition.
Faster project implementation
For WRTL customers, the acquisition translates into access to a broader suite of services, stronger project integration, improved execution efficiencies and a single trusted partner capable of delivering complex energy infrastructure solutions at scale. The enhanced capabilities are expected to support faster project implementation and improved coordination across critical project components.
Integrated RE platform
Commenting on the development, Viren Doshi, Director, Waaree Renewable Technologies Ltd, said: “The completion of the APSL acquisition marks a defining milestone in WRTL’s growth journey. This Rs.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. As projects become larger, more interconnected and increasingly complex, customers are seeking partners capable of delivering comprehensive solutions with speed, reliability and execution excellence. 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.”
Featured photograph (source: apsltd.com) showing galvanization of towers at Associated Power Structures Ltd is for representation only