Waaree Energies to Merge Indosolar
India-based solar module manufacturer Waaree Energies plans to merge group firm Indosolar in a transaction valued at nearly 100 million dollars. The agreement aims to integrate manufacturing operations and achieve cost savings.
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WAAREE ENERGIES LTD will merge with group firm Indosolar in a 9.5 billion rupee ($99.23 million) all-stock transaction announced late Wednesday morning. The deal consolidates solar manufacturing operations within India as domestic clean-tech firms scale capacity. The restructuring unifies cell and module production under a single corporate entity to capture operating efficiencies.
