Tata Power completes Welspun Renewable Energy acquisition

Tata Power Renewable Energy Limited (TPREL), a wholly owned subsidiary of Tata Power Company Limited, has completed the acquisition of Welspun Renewables Energy Private Limited (WREPL) at an enterprise value of Rs 92.49 billion. With this, TPREL has acquired 1,141 MW of renewable power projects including around 990 MW of solar projects and around 150 MW of wind projects. Of the 1,141 MW capacity, over 1,000 MW is operational and the rest is in advanced stages of implementation. TPREL had signed the share purchase agreement for the acquisition in June 2016.