Tata Power acquires 540 MW power project in Maharashtra

 Tata Power announced that it has signed a SPA (Share Purchase Agreement) for acquisition of 100 per cent shareholding in Ideal Energy Projects Limited (IEPL).
IEPL owns a 540 MW coal-based thermal power project near village Bela in Nagpur district of Maharashtra, out of which 270 MW was commissioned in May 2013 and is based on domestic coal.
An agreement was reached between Tata Power and IEPL for sale of 100 per cent stake in IEPL. The acquisition is subject to statutory approvals and certain conditions precedent.
With this acquisition, Tata Power’s total generating capacity will increase to 8,885 MW. According to the company, this project will help Tata Power service its customers in Maharashtra competitively and also give opportunity to the company to work closely with the local communities in the vicinity to improve their quality of life.

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