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An agreement has been signed by Tata Power‘s renewables arm and Welspun Energy Pvt Ltd for acquiring Welspun Energy’s green energy portfolio for an estimated Rs 10,000 crore ($1.4 billion).
Tata Power Renewable Energy has said in a statement that it has signed a share purchase agreement for buying Welspun Renewable Energy’s 1.1 GW renewable portfolio in what would be the largest solar M&A in the country and also among the largest such renewable buyout in the whole of Asia.
Welspun Renewables is a 100 percent subsidiary of Welspun Energy that in turn is co-owned by the listed Welspun Enterprises.
