Waaree Energies shares in news today, here's why 

Shares of solar panel maker Waaree Energies Ltd are in news today after the firm said it has inked a share purchase agreement with Enel Green Power Development S.r.l. for the acquisition of 100% of Enel Green Power India Private Ltd (EGPIPL). The transaction is worth up to Rs 792 crore. 

The stock slipped 1.26% on Friday to Rs 2566.40 against the previous close of Rs 2599.20. The market cap of the firm stood at Rs 73,728 crore .

Total 0.75 lakh shares of the firm changed hands amounting to a turnover of Rs 19.56 crore on BSE.

"...we hereby inform you that Waaree Energies Limited (the Company) has entered into a Share Purchase Agreement with Enel Green Power Development S.r.l (Seller) on January 10, 2025 for acquisition of 100% of the share capital of Enel Green Power India Private Limited (Target or EGPIPL) for a total amount of upto Rs 792 crore, subject to customary closing adjustments," according to a stock exchange filing.

The deal marks a strategic expansion into the renewable energy sector for Waaree Energies.

EGPIPL will become a subsidiary of Waaree Energies post-acquisition. It owns a portfolio of solar and wind projects in India, totalling approximately 640 MWAC (760 MWDC) in an operational capacity. The portfolio includes projects that are jointly owned by a partner, with a majority equity stake held by EGPIPL.

Waaree Energies is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. Its product portfolio includes solar energy products consisting of the PV modules such as multicrystalline modules; Monocrystalline modules; and TopCon modules.