Tata Power-Welspun deal brings focus back to M&A’s in renewables – Feedback

Tata Power Co. Ltd’s deal to acquire renewable energy business of Welspun Enterprise Ltd at an enterprise value of $1.4 billion has put the spotlight back on consolidation in the green energy space—a process some analysts say still has momentum left.

Tata Power, a Tata group company, said in a statement on Monday it had inked an agreement to buy Welspun Renewables Energy Pvt. Ltd for Rs.9,249 crore ($1.4 billion). Under the deal, Tata Power’s green energy unit—Tata Power Renewable Energy Ltd (TPREL) —signed an agreement to acquire Welspun Renewables Energy’s 1,140 megawatts (MW) of solar and wind power assets across eight states in India. Of this, about 990 MW is in solar power projects and about 150 MW in wind projects. The transaction, which marks one of the biggest M&A (merger and acquisition) deals in India’s renewable energy space till date, will expand TPREL’s clean energy portfolio to 2.3 gigawatts (GW).


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