Tata Power Company has declared that Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has acquired Welspun Energy Ptv. Ltd. The Welspun Energy Ptv. Ltd has capacity of 1,140 MW solar and wind generation assets.
The amount of agreement has not been disclosed by either of the businesses. TPREL has signed a share contract with Welspun Energy to accumulate its subsidiary Welspun Renewable Energy Ptv Ltd (WREPL).
WREPL is expanded in renewable power business across 10 states of India comprising 990 MW capacities of solar energy projects and 150 MW wind generation projects. Out of 1,140 MW renewable portfolios, nearly 1,000 MW of capacity is operational and therefore the balance capability is in advanced stages of implementation.
Through this acquisition, the company has decided to install 100GW of solar power capacity along with 60 GW of wind power capacity projects in India during the coming six years.