Tata Power Renewable Energy Ltd. (TPREL), Tata Power Co.’s renewable energy subsidiary, has signed an agreement to acquire Welspun Renewables Energy Private Ltd. (WREPL). According to the company, this represents the largest transaction in India’s renewables space.
WREPL has about 1,140 MW of renewable power projects in total, with about 150 MW in wind projects, says Tata Power. Out of its total renewable portfolio, the company says that nearly 1,000 MW of capacity is operational, and balance capacity is under advanced stages of implementation.
TPREL says it currently operates 294 MW of renewable power capacity, and 500 MW of renewable assets are being carved out of Tata Power into TPREL. In addition, the company says almost 400 MW of solar and wind projects are under implementation.
With all of these assets, TPREL will have a renewable portfolio of about 2,300 MW, making it the largest renewable power company in India, the company says.