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Tata Power’s arm concludes acquisition of 39.2 MW Wind farm in Gujarat

25 Feb 2014 Evaluate

Tata Power Renewable Energy (TPREL), a 100% subsidiary of Tata Power, one of India's largest integrated power companies, has completed acquisition of 100% shareholding in AES Saurashtra Windfarms (ASW), the erstwhile 100% subsidiary of AES Corporation

ASW owns and operates a 39.2 MW wind farm near Dwarka in Jamnagar district of Gujarat. The project which is fully operational since January 2012 has executed a power purchase agreement with GUVNL for sale of the electricity at a tariff of Rs 3.56/kWh for the duration of the project. The project is registered with UNFCCC as a CDM project and is eligible to receive CERs. The project is also registered under the Generation Based Incentive scheme of MNRE.

TPREL was selected as the preferred bidder in a process conducted by AES Corporation for sale of its 100% stake in ASW in September 2013 and signed a share purchase agreement for the acquisition on October 7, 2013. The acquisition was subject to certain conditions, which have now been completed.

With this acquisition, Tata Power's total generation capacity will increase to 8560 MW and its Wind Operational Generation capacity to 437 MW with wind turbines located across five states - Maharashtra, Rajasthan, Gujarat, Tamil Nadu and Karnataka - [which are the leading states in promoting wind power generation in India].

Tata Power is India's largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8521 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.

Tata Power Share Price

439.65 3.95 (0.91%)
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Company Name CMP
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Tata Power 439.65
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