Waaree Energies , a prominent player in the renewable energy sector, has come forward to address recent media reports suggesting that its acquisition deal with Enel Green Power was on the brink of collapse. The company has issued a statement to clarify the current status of the agreement and to quell market speculation.

Acquisition Status

Waaree Energies confirmed that the Share Purchase Agreement (SPA) with Enel Green Power Development S.r.l, signed on January 10, 2025, for acquiring 100% of Enel Green Power India Private Limited, is still under active consideration. The company disclosed that ongoing discussions are taking place regarding certain commercial terms of the deal.

Denial of Deal Collapse

Contrary to media reports hinting at the deal's potential failure, Waaree Energies emphasized that the acquisition process is still in progress. The company's statement serves to reassure stakeholders and counter any premature conclusions about the transaction's outcome.

Transparency and Regulatory Compliance

In its communication, Waaree Energies affirmed its commitment to transparency and regulatory compliance:

• The company stated that it does not possess any unpublished price sensitive information that requires disclosure at this time.
• Waaree Energies clarified that there are no regulatory or legal proceedings related to the proposed acquisition.

Market Movements

Addressing recent fluctuations in its share price, Waaree Energies attributed these movements to market forces. The company maintained that such price changes are not linked to any undisclosed developments regarding the acquisition.

Future Disclosures

Waaree Energies has pledged to make all necessary disclosures at the appropriate time, in full compliance with listing regulations. This commitment underscores the company's dedication to keeping investors and the market informed about significant developments in the acquisition process.

The clarification from Waaree Energies comes at a crucial time, as the renewable energy sector continues to attract significant interest and investment. The outcome of this acquisition could have substantial implications for the company's market position and future growth strategies in the green energy landscape.

Investors and industry observers will likely continue to monitor the situation closely as Waaree Energies and Enel Green Power navigate the complexities of their potential deal.

The US Department of Commerce has launched antidumping duty and countervailing duty investigations on crystalline silicon photovoltaic cells imported from India, Indonesia, and Laos. This development has put Indian solar cell manufacturers, including Waaree Energies , under scrutiny.

Investigation Details

The probe alleges that India has been dumping solar cells into the US market with a significant margin of 123.00% and a subsidy rate of 2.00%. The preliminary findings of this investigation are scheduled for publication on September 2, 2025, which could have far-reaching implications for the Indian solar industry.

Impact on Waaree Energies

Waaree Energies, a key player in the Indian solar sector, finds itself at the center of this investigation. The company currently boasts a substantial order book of 25 GW, valued at approximately ₹49,000 crore. Notably, exports constitute a significant portion of Waaree's business, accounting for 41.30% of its total orders.

The news of the US investigation appears to have affected investor sentiment, with Waaree Energies' shares experiencing a 4.00% decline over the past month.

Market Position and Outlook

Despite the ongoing investigation, Waaree Energies maintains a strong market position with its impressive order book. The company's diverse portfolio, including both domestic and international projects, may help mitigate potential risks associated with the US probe.

Industry-Wide Implications

While Waaree Energies is in the spotlight, the investigation's scope extends to the entire Indian solar cell industry. Other companies, such as Premier Energies, may also feel the ripple effects of this probe. However, Premier Energies reportedly maintains limited exposure to the US market, focusing primarily on domestic operations.

The outcome of this investigation could have significant implications for the Indian solar industry's export prospects and its competitiveness in the global market. As the sector awaits the preliminary findings, companies may need to reassess their strategies and market focus in light of potential trade barriers.

As this situation develops, stakeholders in the Indian solar industry will be closely monitoring the progress of the US investigation and its potential impact on trade relations and market dynamics.