Waaree secures approval to acquire Indian solar cell maker
From pv magazine India
Mumbai-based Waaree Energies has secured approval from the Delhi Bench of the National Company Law Tribunal for its planned acquisition of Indosolar.
Indosolar, an Indian PV cell manufacturer, has incurred significant losses, eroding its net worth. As of March 31, 2021, it had a negative net worth of INR 99,779.49 ($1,285). Lenders initiated insolvency proceedings against Indosolar in October 2018 under the Insolvency and Bankruptcy Code 2016.
Waaree’s acquisition of Indosolar will help it to expand its solar cell manufacturing capacity to 5.4 GW, from current plans for 4 GW. The deal will also complement its planned expansion into solar module manufacturing. Waaree expects to start manufacturing within about six months at the Indosolar plant.
Waaree currently operates four PV module manufacturing facilities in India. It has shipped solar modules to customers in 19 countries and has been ranked as a Tier-1 PV module manufacturer by BloombergNEF (BNEF) for four consecutive years, from 2018 to 2021. Recently, it was recognized as a top performer in PV Evolution Labs’ (PVEL) 2022 PV Module Reliability Scorecard.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: [email protected].
Please login to comment
[…] η Waaree Energies, έχει εξασφαλίσει έγκριση για την απόκτηση Indosolar, ένας χρεοκοπημένος κατασκευαστής ηλιακών κυττάρων. […]
[…] leading solar cell and module manufacturers, Waaree Energies, has secured approval to acquire Indosolar, a bankrupt solar cell manufacturer. With this acquisition Waaree will enhance its solar cell […]
[…] Solarzellen- und Modulhersteller, Waaree Energies, hat sich die Genehmigung zum Erwerb gesichert Indosolar, ein bankrotter Solarzellenhersteller. Mit dieser Akquisition wird Waaree seine […]
[…] leading solar cell and module manufacturers, Waaree Energies, has secured approval to acquire Indosolar, a bankrupt solar cell manufacturer. With this acquisition Waaree will enhance its solar cell […]
[…] leading solar cell and module manufacturers, Waaree Energies, has secured approval to acquire Indosolar, a bankrupt solar cell manufacturer. With this acquisition Waaree will enhance its solar cell […]
[…] Source link […]
[…] producentów ogniw i modułów słonecznych, Waaree Energies, uzyskał zgodę na przejęcie Indosolar, zbankrutowanego producenta ogniw słonecznych. Dzięki temu przejęciu Waaree zwiększy swoją […]