TPREL inks SPA to acquire Welspun Renewables Energy Pvt Ltd
Tata Power announced that Tata Power Renewable Energy Ltd (TPREL), a 100% subsidiary of Tata Power, has signed a share purchase agreement (SPA) with Welspun Energy Pvt Ltd (WEPL) to acquire its subsidiary Welspun Renewables Energy Pvt Ltd (WREPL). This represents the largest transaction in the renewables space in India. Anil Sardana, CEO and MD, Tata Power, said, “The acquisition is also a significant step towards attaining the company’s objective of having non-fossil fuel based capacity up to 30-40% of its total generating capacity.”
Tata Power commemorates centenary with postage stamp
Tata Power recently culminated its centennial celebrations by releasing its official postage stamp that has been created as a memento to the company’s 100 years contribution to India’s growth story. In another development, TPREL has won a 30 MW solar grid connected photovoltaic project in Maharashtra.