Tata Power arm to acquire Welspun Renewables EnergyStaff writer ▼ | June 14, 2016
The Tata Power Company said that Tata Power Renewable Energy Limited (TPREL), its 100% subsidiary, has signed an SPA with Welspun Energy Private Limited (WEPL) to acquire its subsidiary Welspun Renewables Energy Private Limited (WREPL).
Acquisition The largest transaction in renewables space in India
WREPL 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.
Out of 1,140 MW renewable portfolio, nearly 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation.
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.
Thus, TPREL with all these assets, would have renewable assets portfolio of about 2,300 MW making it the largest Renewable Power Company in India. ■