Waaree Energies gets NCLT nod to acquire Indosolar
PV module manufacturer, Waaree Energies has received the approval from the National Company Law Tribunal, Delhi Bench (NCLT) to acquire Indosolar Limited, a manufacturer of solar cells.
The acquisition is under the corporate insolvency resolution process (CIRP) initiated by the lenders of Indosolar NSE 4.11 % Limited under the Insolvency and Bankruptcy Code 2016.
This acquisition will facilitate augmentation of solar cell manufacturing capacity of Waaree Energies to 5.4 GW from the currently planned 4 GW and will complement its planned expansion in solar module manufacturing.
