Tata Power Renewable Energy to acquire Welspun Energy’s subsidiary

- Advertisement -

In what can be termed as the biggest acquisition in the renewable energy sector in the country, Tata Power has informed the Bombay Stock Exchange (BSE) that its wholly owned subsidiary Tata Power Renewable Energy Ltd (TPREL) will acquire Welspun Energy’s subsidiary, Welspun Renewable Energy Pvt Ltd (WREPL).

The transaction is subject to various statutory and other regulatory approvals. The enterprise value of the transaction excluding closing adjustments is Rs 9,249 crore.

JM Financial Institutional Securities Limited has acted as acted as the exclusive transaction advisor to TPREL. KPMG India Private Limited was the accounting and tax advisor. AZB and Partners acted as the legal advisor for this transaction.

- Advertisement -

WREPL has one of the largest operating solar portfolios in India spread across ten states. According to the press release the company has about 1,140 mega watt (MW) of renewable power projects comprising about 990 MW solar power projects and about 150 MW of wind power projects. Out of 1,140 MW renewable portfolio, nearly 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation.

After the acquisition TPREL would have renewable assets portfolio of about 2,300 MW making it the largest renewable power company in India.

By Atanu Kumar Das

- Advertisement -

Related Artcles

Buzz

Electronics Major Molex Expands In Hanoi

0
The fully integrated connector manufacturing facility in Vietnam will be laced with advanced tech and capabilities, said the company Global electronics and connectivity major Molex...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

Dell Joins Fujitsu For Faster Open RAN Global Adoption

0
Multi-band RUs, virtualized RAN and Open RAN Accelerator Cards comprise the under-development solution architecture Fujitsu recently announced that it is working with Dell Technologies to...

Exclusive

Electronics Major Molex Expands In Hanoi

0
The fully integrated connector manufacturing facility in Vietnam will be laced with advanced tech and capabilities, said the company Global electronics and connectivity major Molex...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

Dell Joins Fujitsu For Faster Open RAN Global Adoption

0
Multi-band RUs, virtualized RAN and Open RAN Accelerator Cards comprise the under-development solution architecture Fujitsu recently announced that it is working with Dell Technologies to...

Important Sectors

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Redington’s Renewable Portfolio Enhanced With New Solar Program

0
To accelerate the solar power adoption by homes and businesses, the company has launched Solar Rooftop Partner Program The leading tech company Redington Ltd recently...

The SIDM Champion Award 2022 Goes To: CoreEL!

0
On Sep 27th 2022, the India-based tech-company CoreEL received the Society of Indian Defence Manufacturers (SIDM) Champion Awards 2022. Country's Raksha Mantri Shri Rajnath...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Manufacturing

Electronics Major Molex Expands In Hanoi

0
The fully integrated connector manufacturing facility in Vietnam will be laced with advanced tech and capabilities, said the company Global electronics and connectivity major Molex...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...