Tata Power Renewable’s US$1.4bn Welspun green subsidiary takeover to go ahead

Facebook
Twitter
LinkedIn
Reddit
Email
Tata Power Renewable Energy will have 2,300MW of renewables assets in its portfolio once the deal has gone through. Image: Tata Power.

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).

According to a filing made on Sunday with the Mumbai Stock Exchange (BSE) and National Stock Exchange of India, a share purchase agreement was signed between the two subsidiaries. Tata Power Renewable Energy and Welspun originally put the deal on the table with the stock exchanges in March.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

At the time of the March filing, Tata put Welspun’s Enterprise Value at the above figure for 100% of shares. Welspun Energy’s turnover for 2016 was 7.68 billion rupees (US$110 million), operating “close to 300MW” of its own projects with a further 840MW of renewable power projects across India owned and operated through further subsidiaries.

“The acquisition will enable the company to expand its renewables energy portfolio,” Tata said.

According to Tata Group, acquiring the renewables arm of the engineering, procurement and construction (EPC) company will bring Tata Power Renewable Energy Ltd – which it describes as Tata’s “primary investment vehicle for clean and renewable energy based power generation” – up to 2,300MW of assets in its renewables portfolio.

Read Next

June 18, 2025
US solar tracker manufacturer Array Technologies has acquired APA Solar, a producer of foundations and fixed-tilt racking for solar projects.
June 17, 2025
Indian module manufacturer Ahaan Solar has started construction of a 2GW solar module assembly plant in Rohnat, Haryana.
June 16, 2025
The global solar tracker market expanded by 20% in 2024 to a record size, according to energy research firm Wood Mackenzie.
June 13, 2025
Indian solar developer Solarium Green Energy has planned to build a 1GW module manufacturing plant in the western Indian state of Gujarat.
Premium
June 12, 2025
PV Talk: Vinay Rustagi, director of Indian solar manufacturer Premier Energies, discusses the company’s upstream manufacturing plans and why he believes India can become a counterweight to Chinese PV hegemony.
June 12, 2025
Waaree Solar Americas will supply 599MW of solar modules supply agreement to an undisclosed US-based independent power producer (IPP).

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico