Tata Power Renewable Energy Limited (TPREL), a wholly owned subsidiary of Tata Power, on 9 March 2016 signed a Share Purchase Agreement (SPA) with Indo Rama Renewables Limited (IRRL) to acquire its 100% subsidiary Indo Rama Renewables Jath Limited (IRRJL). IRRJL owns a 30 MW wind farm in Sangli District of Maharashtra.
IRRJL’s wind farm is fully operational since July 2013 and has executed a long-term power purchase agreement with Maharashtra State Electricity Distribution Limited. The wind farm is registered under the Generation Based Incentive scheme of Ministry of New & Renewable Energy.
With this acquisition, Tata Power’s total generation capacity will increase to 9130 MW and its operational Wind power generation capacity to 570 MW with wind turbines located across five states, which are Maharashtra, Rajasthan, Gujarat, Tamil Nadu and Karnataka. TPREL also has 250 MW of wind projects under construction across Gujarat, Madhya Pradesh and Andhra Pradesh.
About Indo Rama
• Indo Rama Renewables Jath Limited (IRRJL) is a 100% step down subsidiary of Indo Rama Synthetics India Limited (IRSL).
• IRSL is one of India’s largest players in the business of manufacturing polyester.
• It has an integrated manufacturing complex spread over 250 acres at Butibori, near Nagpur in Maharashtra with a capacity of more than 6 Lac tonnes per annum.
• IRRJL operates a 30 MW wind farm in District Sangli of Maharashtra comprising of 15 numbers of 2000 KW G 97 Wind Turbine Generators (WTGs) supplied by Gamesa India.
About Tata Power Renewable Energy Limited
• TPREL is a wholly owned subsidiary of The Tata Power Company Ltd.
• TPREL is Tata Power’s primary investment vehicle for the clean and renewable energy based power generation capacity.
• TPREL’s present operating capacity is 244 MW, comprising 190 MW wind and 54 MW solar, located in the states of Maharashtra, Gujarat and Rajasthan.
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Who: Tata Power and IRRL
What: Inked agreement
When: 9 March 2016
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