Credit rating agency, CARE has reaffirmed ‘AA’ rating to long term instruments worth Rs 4710 crore of Tata Power Company. The rating agency has reaffirmed the ratings of the instruments of the company post the company’s announcement of signing a share purchase agreement to acquire the entire stake in Ideal Energy Projects (IEPL).
IEPL owns a 540 MW domestic coal-based thermal power plant near Nagpur, Maharashtra. Out of 540 MW half of the capacity is operational. The acquisition is subject to statutory approvals and certain conditions precedents
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 | 398.70 |
| Tata Power | 442.80 |
| Adani Power | 229.90 |
| Power Grid Corp | 319.30 |
| Torrent Power | 1733.40 |
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