Waaree Energies , a prominent player in the renewable energy sector, has made significant strides in solar technology while also addressing recent market speculations about its business arrangement with Enel Green Power.

Launch of Flexible Light-Weight Solar Modules

Waaree Energies has introduced innovative Flexible Light-Weight solar modules designed for curved surfaces and structures where traditional glass panels are not suitable. These new modules offer several advantages:

• 70% lighter than conventional panels
• Less than 3.5mm thick
• Require only 8kg/m² roof strength
• Can be bonded directly to surfaces without drilling
• Offer up to 500W output with 18% efficiency
• Available in four variants ranging from 84W to 500W

The modules are targeted for various applications, including:

• Metro facades
• Petrol pump canopies
• Railway infrastructure
• Urban rooftops
• Street lighting
• Defense installations

Waaree Energies currently operates manufacturing facilities with a total solar module capacity of 16.7 GW worldwide.

Enel Green Power Deal Status: Under Review

In a separate development, Waaree Energies has issued a clarification regarding its deal with Enel Green Power:

• The deal is currently under review
• Contrary to market rumors, the agreement has not been terminated
• This clarification aims to maintain transparency and prevent unwarranted market reactions

Market Performance

Waaree Energies shares closed at ₹3,225.00 on NSE, up ₹73.50 or 2.33%.

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.