Coal news and updates

Tata Power arm completes ASW acquisition

February 25:  Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power Limited, completed the process of acquiring the entire stake in AES Saurashtra Windfarms (ASW), the company said in a filing to the BSE on February 25.

Earlier, TPREL was selected as the preferred bidder for buying 100% stake of ASW in September last year and signed a share purchase agreement in October 2013. “The acquisition was subject to certain conditions which have now been completed,” said a company statement.

With this, the company’s total generation capacity will increase to 8,560 MW and wind operation generation capacity will grow to 437 MW with wind turbines in five states –Maharashtra, Rajasthan, Gujarat, Tamil Nadu and Karnataka.

Commenting on the completion of the acquisition, Anil Sardana, Managing Director, Tata Power, said, “This is our second acquisition of an operating wind asset and we are looking for similar opportunities in both wind and solar plants.”