Tata Power buys BP's stake in Tata BP Solar

- Advertisement -

Tata Power Company recently completed the purchase of BP Alternative Energy Holding’s 51 per cent stake in the joint venture company, Tata BP Solar, says a Hindu Business Line report.

Consequently, Tata BP Solar India Ltd is now a wholly owned subsidiary of Tata Power. One of the first and pioneering companies in the Indian solar industry, the quarter century old Tata BP Solar India has been in trouble in the recent times, thanks to cheap imports of solar panels from China.

Tata BP Solar has a capacity of 125 MW, but it was estimated around December 2011 that the company would end the year with about 72 MW.

- Advertisement -

Despite the high profile pedigree, the joint venture has not been able to secure any order from the projects awarded under the 900 MW Gujarat solar programme, or the 600 MW National Solar Mission, Phase-I—an indication of the competitive pressures. (Most of the orders went to either the low cost Chinese manufacturers, or the US companies that are typically backed by low cost finance from the US Exim Bank.)

British Petroleum had earlier decided to get out of the solar business and therefore its exit from Tata BP Solar had been well flagged. In December, Tata Power, announced that it would buy out BP in the joint venture.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Orb Energy Gets $20 Mn From US-based DFC

0
The startup plans to offer collateral-free solar loans to its commercial and industrial customers Bengaluru-Headquartered solar startup Orb Energy recently announced that it has secured...

Waaree Raises Rs 1000 Crores From Private Funding

0
India’s green energy sector expects to get a boost with the latest funding As per the latest reports, Waaree Energies Limited has fetched around Rs...

Aparajitha Acquires Simpliance Tech

0
The compliance service provider takes up 76% equity stake in Simpliance Aparajitha Corporate Services Private Limited, India’s leading compliance service provider recently announced the acquisition...

Exclusive

Orb Energy Gets $20 Mn From US-based DFC

0
The startup plans to offer collateral-free solar loans to its commercial and industrial customers Bengaluru-Headquartered solar startup Orb Energy recently announced that it has secured...

Waaree Raises Rs 1000 Crores From Private Funding

0
India’s green energy sector expects to get a boost with the latest funding As per the latest reports, Waaree Energies Limited has fetched around Rs...

Aparajitha Acquires Simpliance Tech

0
The compliance service provider takes up 76% equity stake in Simpliance Aparajitha Corporate Services Private Limited, India’s leading compliance service provider recently announced the acquisition...

Important Sectors

Orb Energy Gets $20 Mn From US-based DFC

0
The startup plans to offer collateral-free solar loans to its commercial and industrial customers Bengaluru-Headquartered solar startup Orb Energy recently announced that it has secured...

Waaree Raises Rs 1000 Crores From Private Funding

0
India’s green energy sector expects to get a boost with the latest funding As per the latest reports, Waaree Energies Limited has fetched around Rs...

EcoEnergy Insights Fetches Award For IoT Services

0
The company's BluEdge™ Command Centers got recognition at the awards A Carrier company and AI & IoT solutions provider EcoEnergy Insights recently earned the "Best...

Asteria Aerospace Recieves First Micro Category Drone Certification

0
A200 can also be used to impart pilot training. The A200 drone was fully compliant with the Certification Scheme for Unmanned Aircraft Systems notified in...
EV

Increase in EV Prices Push Away the Potential UK and US Buyers

0
Only 5% of UK and US respondents currently use EV. As per Juniper Research survey, 66% of UK and 61% of US respondents are not...

Manufacturing

Orb Energy Gets $20 Mn From US-based DFC

0
The startup plans to offer collateral-free solar loans to its commercial and industrial customers Bengaluru-Headquartered solar startup Orb Energy recently announced that it has secured...

Sanmina & Reliance JV To Boost Electronics Hardware

0
The joint venture will create a state-of-the-art ‘Manufacturing Technology Center of Excellence' Sanmina Co, a leading integrated manufacturing solutions company recently declared the completion of...
EV

Increase in EV Prices Push Away the Potential UK and US Buyers

0
Only 5% of UK and US respondents currently use EV. As per Juniper Research survey, 66% of UK and 61% of US respondents are not...

Indian EV Startup Euler Motors Raises $60 Million

0
The company intends to increase its production capacity and broaden its offerings range Delhi-based EV Startup Euler Motors secured a sum of $60 million in...

Intel: Quantum Chip Production Hits Major Milestone

0
The research was conducted using Intel’s second-generation silicon spin test chip The Intel Labs and Components Research organizations recently announced that they achieved the industry’s...