Tata Power arm to acquire Indo Rama’s 30 MW wind farm in Maharashtra

By: | Published: March 10, 2016 1:17 AM

Tata Power Renewable Energy Limited (TPREL), a 100% subsidiary of Tata Power, has signed an agreement with Indo Rama Renewables Limited (IRRL) to acquire its 100% subsidiary, Indo Rama Renewables Jath Limited (IRRJL), which owns a 30 MW wind farm in Sangli district of Maharashtra.

Tata Power Renewable Energy Limited (TPREL), a 100% subsidiary of Tata Power, has signed an agreement with Indo Rama Renewables Limited (IRRL) to acquire its 100% subsidiary, Indo Rama Renewables Jath Limited (IRRJL), which owns a 30 MW wind farm in Sangli district of Maharashtra. The transaction shall be consummated within the next few weeks. The value of the deal was not disclosed by the company.

The wind farm, which is fully operational since July 2013, has executed a long-term power purchase agreement with Maharashtra State Electricity Distribution Limited and is registered under the Generation Based Incentive scheme of ministry of new & renewable energy, a Tata Power release said. With this acquisition, Tata Power’s total generation capacity will go up to 9,130 MW and its operational end power generation capacity will touch 570 MW with wind turbines located across five states – Maharashtra, Rajasthan, Gujarat, Tamil Nadu and Karnataka. TPREL also has 250 MW of wind projects under construction across Gujarat, MP and AP.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition