TAQA India Power Ventures (TAQA) is likely to withdraw from acquisition transaction as defined in the acquisition agreement dated March 1, 2014 signed between Jaiprakash Power Ventures and TAQA India Power Ventures & others. TAQA had agreed to buy JP group’s power asset.
TAQA had agreed to buy Karcham and Baspa Hydro Power Projects of Jaiprakash Power. Following the withdrawal of the said agreement TAQA will be liable for payment of break fee.
Jaiprakash Power Ventures is part of India’s leading Infrastructure conglomerate - Jaypee Group. Currently the company operates the largest hydroelectric power plant in the private sector in India. Its power projects which are in different stages of implementation include Hydro, Thermal and Transmission.
