Tata Power subsidiary signs SPA to acquire Welspun Renewables

 

Tata Power Company Ltd. (Mumbai), India’s largest integrated power company, on June 12^th, 2016 announced that Tata Power Renewable Energy Limited (TPREL), a 100% subsidiary of Tata Power, has signed a Share Purchase Agreement (SPA) with Welspun Energy Private Limited (WEPL) to acquire its subsidiary Welspun Renewables Energy Private Limited (WREPL).

This represents the largest transaction in renewables space in India, Tata Power emphasizes.

Welspun Renewables has one of the largest operating solar photovoltaic (PV) portfolios in India spread across ten states. It has about 1,140 MW of renewable power projects comprising of about 990 MW solar PV projects and about 150 MW of wind power projects.

Out of the 1,140 MW renewable portfolio, nearly 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation.

Tata Power Renewable Energy 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 PV and wind power projects are under implementation.

Thus, TPREL with all these assets, would have a renewable assets portfolio of about 2,300 MW making it the largest renewable power company in India. 

source; http://www.solarserver.com