Tata Power Company Ltd.

Tata Power Company is in talks to acquire a majority stake in the UK-based power generator InterGen NV from GMR Infrastructure to scale up its global presence. InterGen, with generation capacity of over 6,300MW, has power plants in UK, Netherlands, Mexico, Philippines and Australia.

GMR Infrastructure had bought 50% stake in InterGen for $1.1 billion in 2008 and has been looking for a buyer. If the deal goes through, Tata Power may require to pay at least $1.2 billion.

Tata Power plans to invest Rs 70,000-crore to increase capacity to 25,000 MW by 2017. On the progress of upcoming projects, 60% work of the 4,000 MW-power project at Mundra in Gujarat and 85% of the 1,050 MW -Maithon project in Jharkhand have been completed. The first unit of 525 mw at Maithon is expected to be commissioned by September next year.