Tata Power, India’s largest integrated power company has entered into a Share Purchase Agreement (SPA) with Tata Africa Holdings (SA) for formalizing the acquisition of their 50% shareholding in Itezhi Tezhi Power Corporation (ITPC). The closing will be subject various approvals and consents as required under applicable law.
ITPC, a 50-50 joint venture with the Zambian parastatal utility ZESCO (ZESCO), is a special purpose vehicle which has been setup to build and operate a 120 MW hydro power plant in Itezhi Tezhi district in Zambia. ITPC has a 25 year Power Purchase Agreement with ZESCO and is expected to commission the power plant by Q4 2015.
Tata Power is India’s largest integrated power company with a growing international presence. The Company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 8,747 MW in India.
| Company Name | CMP |
|---|---|
| NTPC | 402.20 |
| Tata Power | 436.00 |
| Adani Power | 225.15 |
| Power Grid Corp | 313.90 |
| Torrent Power | 1724.80 |
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