"Waaree Renewable has expanded into the power transmission sector through the ₹1,225-crore acquisition of ASPL."

Waaree Renewable Technologies Ltd recently announced its foray into the power transmission segment, with its board approving a ₹1,225-crore transaction to acquire a majority stake in Associated Power Structures Ltd (ASPL).

In a regulatory filing, the company said its Board of Directors has approved the execution of a binding term sheet to acquire around a 55 per cent stake in ASPL through a combination of primary and secondary investments. The proposed acquisition is subject to the completion of due diligence and customary closing conditions.

Waaree said the move marks a strategic milestone in its evolution into an integrated energy transition company. By expanding beyond renewable power generation into grid and transmission infrastructure, the company aims to strengthen its capabilities in a segment seen as critical for enabling large-scale adoption of renewable energy.