Tata Power set to buy Welspun’s wind, solar assets valued at $1.45 billion – Feedback

Tata Power, the country’s largest integrated power utilities company, looks set to acquire the renewable energy assets of the diversified Welspun Group, valuing the 1152 MW or 1.15 GW portfolio of operational and almost ready solar and wind farms at close to $1.45 billion, inclusive of its debt, said three people directly involved.

Both sides are in final stages of negotiations and hope to sign a definitive share sale agreement in the next 2-3 weeks to conclude the largest buyout in the sector so far, save any last minute hiccups. The Tata offer has trumped the closest competing proposal from a consortium of IDFC Private Equity and Finnish clean energy multinational Fortum by at least 15-20%, added these sources. The other serious contender in fray was Greenko Group Plc, a Hyderabad based renewable company controlled by GIC, the sovereign wealth fund of Singapore.

http://economictimes.indiatimes.com/industry/energy/power/tata-power-set-to-buy-welspuns-wind-solar-assets-valued-at-1-45-billion/articleshow/52068292.cms

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