New Delhi: Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power on Sunday signed an agreement to acquire Welspun Renewables Energy subsidiary.
The company in a notice to BSE said that the acquisition is being made at an enterprise value of Rs 9,249 crore.
The transaction would make TPREL the largest renewable energy company in India with capacity of 2.3 GW or 2,300 MW.
TPREL is currently developing over 200 MW of wind power projects in across the country.
The company has an installed hydro capacity of 573 MW and a strong portfolio of 60 MW of solar generation capacity.
Welspun Renewables, a part of the $3 billion Welspun Group has mega wind capacities across the country with 680 MW capacity power assets in eight states namely Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Karnataka, Punjab, Tamil Nadu and Andhra Pradesh.
It’s 151 MW (DC) Neemuch solar power plant is also one of the world’s largest solar projects.