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Tata Power completes acquisition of Welspun Renewables

Tata Power on Wednesday announced that its wholly-owned subsidiary Tata Power Renewable Energy (TPREL) completed the acquisition of 100% shareholding in Welspun Renewables Energy (WREPL) and its subsidiaries.

By: | New Delhi | Published: September 15, 2016 6:00 AM
Tata Power shares Spread across 10 states, WREPL has about 1,141 MW of renewable power projects comprising about 990 MW solar power projects and about 150 MW wind power projects. (PTI)

Tata Power on Wednesday announced that its wholly-owned subsidiary Tata Power Renewable Energy (TPREL) completed the acquisition of 100% shareholding in Welspun Renewables Energy (WREPL) and its subsidiaries. With an estimated value of R10,000 crore, the deal representing the largest transaction in India’s renewable space.

Spread across 10 states, WREPL has about 1,141 MW of renewable power projects comprising about 990 MW solar power projects and about 150 MW wind power projects.

Of the total capacity, nearly 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation, Tata Power said, adding that Chetan Tolia, formerly chief human resource officer at Tata Power, has been appointed CEO and executive director of WREPL.

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