Tata Power acquired 540 MW thermal power plant for 3000 crore rupees
The thermal plant was acquired from the promoters of IRB Infrastructure.
Tata Power on 10 December 2014 acquired 540-megawatt (MW) thermal power plant in Maharashtra for 3000 crore rupees.
The thermal plant was acquired from the promoters of IRB Infrastructure. With this deal, Tata Power aimed to increase its total capacity to 8885 MW.
Until now, Tata Power used to be the nation's biggest private sector electricity producer but after the new announcements by Adani Power, Tata Power is under deficit of Production. Adani Power has total capacity of 11040 MW.
The power sector has been short-circuited by regulatory uncertainties, fuel supply disruptions and high debts. The uncertainties have seen M&A deals worth more than 22000 crore rupees in the recent past as big players consolidate their business.
About Tata Power
Tata Power is an Indian electric utility company based in Mumbai, India. It is part of the Tata Group. The core business of the company is to generate, transmit and distribute electricity.
With an installed electricity generation capacity of about 8560 MW, it is India's second largest private power producer.