Tata Power, India's largest integrated power company has signed a SPA (Share Purchase Agreement) for acquisition of 100% shareholding in Ideal Energy Projects (IEPL). IEPL owns a 540 MW coal based thermal power project near village Bela in the Nagpur district of Maharashtra out of which 270 MW was commissioned in May 2013 and is based on domestic coal. An agreement was reached between Tata Power and IEPL for sale of 100% stake in IEPL. The acquisition is subject to statutory approvals and certain conditions precedent.
With this acquisition, Tata Power’s total generating capacity will increase to 8885 MW. This project will help Tata Power service its customers in Maharashtra competitively and also give opportunity to the Company to work closely with the local communities in the vicinity to improve their quality of life.
Tata Power is India’s largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8885 MW in India and a presence in all the segments of the power sector viz. Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
Company Name | CMP |
---|---|
NTPC | 356.65 |
Tata Power | 446.15 |
Power Grid Corp | 306.90 |
Adani Power | 588.85 |
Torrent Power | 1440.30 |
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