VA TECH WABAG (‘WABAG’), a leading Indian multinational in water technology, has announced a non-binding equity partnership worth $100 million with an Investor Consortium, including Norfund, to support capital investments in municipal water projects.
This investment will be made over a period of three to five years under a newly established Municipal Platform, aimed at advancing sustainable water infrastructure projects. Norfund, the Norwegian Government’s investment fund focused on sustainable development, along with two other international investors, will contribute to the initiative.
WABAG’s Role in the Municipal Platform
WABAG will serve as the Technical Partner, providing Engineering, Procurement, and Construction (EPC) as well as Operations & Maintenance (O&M) services. The company will also make a minority investment in the platform, aligning with its asset-light strategy to drive long-term growth through strategic financial partnerships.
Aiming for Sustainable Water Management
The Municipal Platform will leverage the expertise and resources of WABAG and its partners to address the rising demand for advanced water treatment technologies and infrastructure. By pooling strengths, the platform aims to support sustainable water management while also fostering economic growth in key regions.
Speaking on the development, Mr. S. Varadarajan, Whole-time Director & Chief Growth Officer of WABAG, stated:
“This partnership underscores our commitment to addressing global water challenges by leveraging cutting-edge technology and expertise. Our asset-light strategy allows us to collaborate with strong financial partners, combining WABAG’s technical excellence with their financial backing to accelerate impactful and sustainable water solutions.”
Moving Towards Definitive Agreements
The signing of the term sheet marks a significant step toward formalizing the partnership, which is expected to fast-track transformative water projects. Further details on the collaboration will be shared as the definitive agreements take shape.
About WABAG
With a legacy spanning over a century, WABAG is a global leader in water technology, delivering sustainable water and wastewater treatment solutions for municipal and industrial sectors. Headquartered in India, the company operates in over 25 countries with a team of 1,600 water professionals.
WABAG has designed and built over 1,500 water and wastewater treatment plants worldwide and remains at the forefront of innovation, holding over 125 intellectual property rights. The company aligns with the United Nations Sustainable Development Goals (UNSDGs) and Environmental, Social, and Governance (ESG) principles, focusing on conservation, resource optimization, recycling, and reuse.