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Tata Power's arm acquires additional 10% stake in ABV

21 May 2020 Evaluate

Tata Power Company’s wholly owned subsidiary -- Tata Power International (TPIPL) has acquired 10% equity stake of Adjaristqali Netherlands B.V. (ABV) from International Finance Corporation (IFC) for a sum of $150,000. This acquisition has been done as per the provisions of the shareholder agreement. Post this acquisition, the company, through TPIPL, holds 50% stake in ABV.

ABV owns 100% stake in Adjaristqali Georgia LLC (AGL) which has developed the 187 MW hydro project in Georgia at a cost of around USD 500 million. It has commissioned 178 MW of the total capacity in March 2020.

Tata Power Company is India’s largest integrated power company with a growing international presence.

Peers
Company Name CMP
NTPC 309.30
Tata Power 335.50
Adani Power 188.00
Power Grid Corpn. 245.40
Adani Energy Solut. 1252.95
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