Tata Power Acquires Welspun
Tata Power Company Limited, a unit of industrial holding Tata Sons Ltd and India’s largest integrated power company, announced that it’s subsidiary Tata Power Renewable Energy Limited (TPREL) has signed a share purchase agreement to acquire Indian renewable energy developer Welspun Renewables Energy Private Limited, which is itself a subsidiary of Welspun Energy Private Limited. According to Tata, this represents the largest transaction in renewables space in India so far.
Welspun Renewables has one of the largest operating solar portfolios in India spread across ten states. It has about 1,140 MW of renewable power projects comprising of about 990 MW solar power projects and about 150 MW of wind power projects. Of this portfolio, nearly 1,000 MW of capacity is operational. Moreover, TPREL currently operates 294 MW of renewable power capacity and 500 MW of renewable assets are being carved out of Tata Power into TPREL through a court process. In addition, almost 400 MW of solar and wind power projects are under implementation.