Tata Power to acquire Welspun Renewable Energy
The Dollar Business Bureau Tata Power announced that it will acquire Welspun Renewable Energy Pvt (WREPL) for an undisclosed amount. Welspun Renewable Energy Pvt is a subsidiary of Welspun Energy. In a statement released, it was announced that the subsidiary of Tata Power, Tata Power Renewable Energy will acquire WREPL through share purchase agreements. WREPL has the largest operating solar portfolios and is spread across 10 states. It has 1,140 MW of renewable power project works consisting of about 990 MW solar power projects and 150 MW of wind power projects. Sources from the market have said that the deal size could range between Rs.6000 to 7000 crore. Of the total 1,140 MW of the renewable portfolio, nearly 1000 MW of the capacity is ...
Tata Power eyes four regions to expand global presence
The Dollar Business Bureau Tata Power on Monday said that it has identified four key regions to expand its global presence. The company will focus more on its overseas businesses in Africa, South East Asia, Middle East, SAARC (India Region). “We have created four regions- India & SAARC; Southeast Asia; Middle East cum Turkey; and Africa. We have deployed resources in each of these four regions to constantly update ourselves with the dynamics and scout for opportunities,” Said Anil Sardana, CEO & Managing Director, Tata Power. He said the company will invest in the region and in specific projects where it has “all the clearance and are able to mitigate risks to achieve the threshold returns”. “Tata Power continues to ...
