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Informist, Monday, Mar. 16, 2026

MUMBAI – Waaree Energies Ltd. said it plans to contest the claims in arbitration proceedings initiated by Enel Green Power Development S.R.L. over an alleged breach of a sale and purchase agreement by the company. The Rome-based Enel Green Power Development has initiated arbitration proceedings in the International Court of Arbitration seeking compensation for damages and loss of profit due to the alleged breaches, the company said in an exchange filing Monday.

Waaree Energies had signed an agreement with Enel Green Power Development for the sale and purchase of the entire issued and paid-up share capital of Enel Green Power India Pvt. Ltd., a subsidiary of the latter, in January 2025. The deal was close to falling apart due to breach of the agreement, The Economic Times had reported in August. The legal advisors of the company are evaluating the financial impact of the proceedings and will file an appropriate response before the arbitral tribunal, Waaree Energies said in an exchange filing.

At 0952 IST, shares of Waaree Energies traded at INR 2,870 on the National Stock Exchange, up nearly 3% from the previous close. For the December quarter, the company had reported a consolidated net profit of INR 10.62 billion on revenues of INR 64.83 billion.  End

Reported by Prateem Rohanekar

Edited by Tanima Banerjee

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