Waaree Energies’ ₹3,500 Crore Enel Deal Nears Collapse Amid Disputes

Waaree Energies’ acquisition of Enel Green Power India, valued at ₹3,500 crore, is on shaky ground. Media reports suggest disputes over unmet conditions have turned negotiations contentious, casting doubt on the deal’s future.

Deal Structure and Strategic Importance

The proposed acquisition involved ₹792 crore in cash plus the absorption of Enel’s debt by Waaree. The move was aimed at strengthening Waaree’s renewable energy portfolio, especially in wind power, alongside its solar dominance.

Enel’s Exit from India

Enel Green Power India, which operates 640 MW capacity, is part of Rome-based Enel’s strategy to exit India and streamline its global operations. Other European energy firms like Statkraft and Fortum have also withdrawn from India.

Waaree Energies Share Price Movement

As of 1:47 pm IST on August 19, 2025, Waaree Energies share price (NSE: WAREEENER) was trading at ₹3,048.00 on the NSE, up ₹63.10 or 2.11% for the day. The stock opened at ₹3,000.00 and touched an intraday high of ₹3,085.00 and a low of ₹3,000.00. The company’s market capitalisation stood at ₹87.56K crore, with a P/E ratio of 38.39. Over the past 52 weeks, the stock has traded between a high of ₹3,743.00 and a low of ₹1,863.00.

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Waaree’s Strong Business Outlook

Waaree is India’s largest solar panel manufacturer with 13.3 GW capacity. It recently posted strong June quarter results and reaffirmed its FY26 EBITDA guidance of ₹5,500–6,000 crore (2x YoY).

Conclusion

While the Enel deal faces uncertainty, Waaree Energies’ strong fundamentals, diversified expansion, and India’s rising energy demand suggest that the company remains on a solid long-term growth path, even without this acquisition.

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