Waaree Energies have announced the signing to acquire 100% stake in Enel Green Power Development s.r.l. for around INR 792 crore. Waaree Energies is the largest solar PV module manufacturer and have reported consolidated net profit of INR 361 crores, for the second quarter ended September 2024. The company for the first half was also immersive as the reported consolidated net profit of INR 755 cr.
Waaree Energies: Being an influential player in the renewable energy field in India and the nation’s largest producer of solar panels, Waaree Energies plays a pivotal role in popularizing solar energy, both through rooftop installations and larger solar projects, with advanced manufacturing capabilities. Not only that; the company has also exported products to over 68 countries with a strong mission to make clean energy accessible across the globe. With a concentration on efficiency and innovation, Waaree Energies is actually contributing to the greener, more sustainable tomorrow.
Enel Green Power Development S.R.L: It focuses strongly on solar and wind power activities, along with a hydropower initiative. Further, the organization is constantly striving to expand across the globe. It is expanding its operations worldwide by introducing the latest technologies that are environmentally friendly and are aiming towards a net-carbon-zero world. Enel Green Power maintains operations in different countries, contributing to clean energy, cost-competitive, and reliable energy according to international environment goals.
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This transaction is expected to finish within 3 months .This is a major achievement for Waaree Energies, enhancing its presence in the renewable energy segment. Using the operational capabilities and portfolio of Enel Green Power, Waaree Energies is expected to grow further as an IPP. The deal is sure to play a pivotal role in India’s quest for green energy and sustainable development.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
Also read: Indian Markets on 10 Jan: Broader Indices Fall Under Earnings Pressure
Published on: January 10, 2025 at 8.00PM GMT.
Gavisiddeshwara Jatra:
The southern part of the country witnesses the most important of all fairs, known as Gavisiddeshwara Jatra, and is conducted for three days in Koppal, Karnataka, from January 12, 2020. This sensational festival includes the Rathotsava, which is basically a temple car festival, a feeding of the community through a program called “dasoha,” and various religious discourses and cultural performances.
As stated in Bhagavad Gita : (Bhagavad Gita 5.16)
ज्ञानेन तु तदज्ञानं येषां नाशितमात्मनः।
In knowledge, ignorance is destroyed; for those who have knowledge, ignorance is vanquished.
12th January is celebrated as National Youth Day!
