Tata Power buys wind farm in Gujarat

Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has signed a share purchase agreement with AES Corporation to acquire its subsidiary AES Saurashtra Windfarms Pvt Ltd (ASW) which owns 39.2 MW wind farm in Gujarat, for an undisclosed amount, as per a stock market disclosure.

“TPREL was selected as the preferred bidder in a process conducted by AES Corporation for sale of its 100 per cent stake in ASW. The acquisition is subject to certain conditions, which are expected to be addressed in a few months time,” Tata Power said in the release.

Commenting on the acquisition agreement, Anil Sardana, MD of Tata Power said,