December 2016 Current Affairs

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Tata Power acquires Welspun's renewable energy assets

Tata Power acquires Welspun's renewable energy assets
13 June 2016 Current Affairs: Tata Power has acquired the renewable energy (RE) subsidiary of Delhi-based Welspun Energy. It is estimated to be a Rs 9,900-crore deal.

Tata Power’s subsidiary, Tata Power Renewable Energy Ltd (TPREL), signed a share purchase agreement with Welspun Energy to acquire Welspun Renewables Energy Pvt Ltd (WREPL).

The portfolio Tata has bought comprises 990 Mw of solar power projects and about 150 Mw of wind power projects. Of this, 1,000 Mw is operational and the rest in “advanced stages of execution.

The assets of Welspun Energy have been on the block for a year; this newspaper had reported last year about companies being interested in buying. Japan’s SoftBank, on these, dropped out, as did Hero Future Energies and ReNew Power, said senior executives.After the new purhase, TPREL would have an RE portfolio of 2,300 Mw, making it the largest such in this segment, in India. It had till now  294 Mw of capacity; another 500 Mw of assets were being carved out of Tata Power through a court process. And, almost 400 Mw of solar and wind power projects are under implementation.

It had got institutional funding from across the globe for some key projects. General Electric made its first Indian solar energy investment in the company, funding $24 million at a Neemuch, Madhya Pradesh-based 151 Mw  project. The Asian Development Bank also made its first equity infusion in India as part of a $50-mn commitment into the company.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
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September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
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27 AUG
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26 AUG
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25 AUG
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