Tata Power’s arm inks SPA for acquisition of 30 MW wind farm in Maharashtra

Tata Power’s 100% subsidiary - Tata Power Renewable Energy (TPREL), has signed a Share Purchase Agreement (SPA) with Indo Rama Renewables (IRRL) to acquire its 100% subsidiary Indo Rama Renewables Jath (IRRJL) which owns a 30 MW wind farm in Sangli District of Maharashtra. The transaction shall be consummated within the next few weeks. The wind farm which is fully operational since July 2013 has executed a long-term power purchase agreement with Maharashtra State Electricity Distribution (MSEDL) and is registered under the Generation Based Incentive scheme of Ministry of New & Renewable Energy.

With this acquisition, Tata Power’s total generation capacity will increase to 9,130 MW and its operational Wind power generation capacity to 570 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. TPREL also has 250 MW of wind projects under construction across Gujarat, MP and AP.

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 [9100] MW and a presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.