Waaree Renewable Technologies Limited (WRTL), a subsidiary of Waaree Energies Limited, has completed the acquisition of a 55 per cent stake in Associated Power Structures Private Limited (APSPL) for Rs 12.25 billion following the completion of primary and secondary transactions. Consequently, APSPL has become a subsidiary of WRTL.

APSPL has nearly three decades of experience in the conceptualisation, fabrication and engineering, procurement, and construction contracting of galvanised transmission and telecom towers. The company has executed several transmission and windmill erection projects across India. The acquisition is aligned with Waaree’s strategy of expanding into an integrated clean energy and infrastructure platform.