Indian energy firm Tata Power has completed its acquisition of Welspun Renewables Energy Private Limited (WREPL) and appointed Chetan Tolia as chief executive and executive director of WREPL, according to a Tata statement.
The renewables subsidiary of India’s Tata Power will acquire Welspun Energy PTA Ltd, the clean energy arm of another major Indian company, Welspun Energy, valuing its target at 92.49 billion rupees (US$1.37 billion).
Solar tariffs in India have kept on plummeting with yet another record low price hitting the headlines last week in the Rajasthan PV auction. The hype surrounding these prices has been frantic with concern about how these low tariffs will be translated into projects on the ground and whether competition will ease off or continue. Ashish Khanna, executive director and chief executive of India-based solar firm Tata Power Solar Systems, discusses various trends gathered by closely following the bidding process over recent months and sheds some light on bidding strategies.