Tata Power, India’s largest integrated power company, has entered into a binding understanding with NELCO to purchase NELCO’s defence business of Unattended Ground Sensors (UGS) business on a slump sale basis for a total consideration of about Rs 8.3 crore. The acquisition of the UGS business will provide synergies to the existing business of Tata Power SED and has scope for growth and expansion.
The UGS business involves supply, installation and servicing of sensors for the Ministry of Defence (MoD). On purchase, the UGS business will be housed in Tata Power’s Strategic Engineering Division (SED), a division of Tata Power, which is also a supplier of defense equipment and solutions. The transfer of the UGS business will be subject to approvals and consents of Defence Authorities as required under applicable law.
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.
