TPREL signs agreement for acquisition of 30 MW wind farm in Maharashtra

  Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed a SPA with Indo Rama Renewables Limited  to acquire its 100 per cent subsidiary Indo Rama Renewables Jath Limited  which owns a 30 MW wind farm in Sangli District of Maharashtra. The transaction shall be consummated within the next few weeks.
The wind farm which is fully operational since July 2013 has executed a long-term power purchase agreement with Maharashtra State Electricity Distribution Limited and is registered under the Generation Based Incentive scheme of Ministry of New & Renewable Energy.
With this acquisition, Tata Power’s total generation capacity will increase to 9130 MW and its operational Wind power generation capacity to 570 MW with wind turbines located across five states – Maharashtra, Rajasthan, Gujarat, Tamil Nadu and Karnataka which are the leading states in promoting wind power generation in India. TPREL also has 250 MW of wind projects under construction across Gujarat, MP and AP.
Speaking on achieving this milestone,  Anil Sardana, CEO and Managing Director, Tata Power, said, “Tata Power endeavours to generate 20-25 per cent of its total generation capacity from clean energy sources and is proud to have completed this acquisition of the 30 MW operational wind farm. The project is a clean energy project, which will enhance and increase the company’s clean energy footprint. This is our third acquisition of an operating wind asset and we are in constant look out for similar opportunities in respect of wind and solar plants. This is yet another step towards the company’s commitment to sustainability.”

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TPREL signs agreement for acquisition of 30 MW wind farm in Maharashtra

  Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed a SPA with Indo Rama Renewables Limited  to acquire its 100 per cent subsidiary Indo Rama Renewables Jath Limited  which owns a 30 MW wind farm in Sangli District of Maharashtra. The transaction shall be consummated within the next few weeks.
The wind farm which is fully operational since July 2013 has executed a long-term power purchase agreement with Maharashtra State Electricity Distribution Limited and is registered under the Generation Based Incentive scheme of Ministry of New & Renewable Energy.
With this acquisition, Tata Power’s total generation capacity will increase to 9130 MW and its operational Wind power generation capacity to 570 MW with wind turbines located across five states – Maharashtra, Rajasthan, Gujarat, Tamil Nadu and Karnataka which are the leading states in promoting wind power generation in India. TPREL also has 250 MW of wind projects under construction across Gujarat, MP and AP.
Speaking on achieving this milestone,  Anil Sardana, CEO and Managing Director, Tata Power, said, “Tata Power endeavours to generate 20-25 per cent of its total generation capacity from clean energy sources and is proud to have completed this acquisition of the 30 MW operational wind farm. The project is a clean energy project, which will enhance and increase the company’s clean energy footprint. This is our third acquisition of an operating wind asset and we are in constant look out for similar opportunities in respect of wind and solar plants. This is yet another step towards the company’s commitment to sustainability.”

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