Tata Power, India’s largest utility company and a division of the mammoth Tata Group, is getting close to generating 1GW of solar power, with its wind assets having already surpassed that milestone figure.
Tata Power Renewable Energy (TPREL), a wholly-owned subsidiary of Indian firm Tata Power, has commissioned a 49MW solar plant at Kayathar, Tamil Nadu, under Welspun Renewable Energy Private Limited (WREPL).
In this week's segment, PV Tech reports on energy storage in Australia, acquisitions in India, and policy-makers in the US, in a round-up of the most dynamic employment stories over the last fortnight.
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.
Indian corporates are taking a significant share of the domestic solar PV market with Indian conglomerate Adani taking top spot in terms of capacity additions in the last year, according to consultancy firm Bridge to India.
Tata Power agreed to buy Welspun Renewable Energy earlier this month for INR92.49 billion (US$1.42 billion). Against the backdrop of fiercely competitive bidding, Mercom Capital Group chief executive and co-founder Raj Prabhu, explains the scene of potential mergers and acquisitions in the Indian solar market.
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).
The next Renewable Energy Global Investors Meet and Expo (RE-INVEST 2016) in India, which acts as a major joining of bankers, politicians and solar developers, has been delayed for 13 months by the Ministry of New and Renewable Energy (MNRE).