Tata Power Co would be purchasing AES Corp's local wind unit and operations in order to increase its overall wind capacity by 10%. With the acquisition, the corporation's wind capacity reaches 437 megawatts. This was confirmed by india's largest industrial generation business group through an emailed statement.
Tata did not confirm the value of the said acquisition of the AES' 39.2 megawatt wind power generator located in Dwarka, in the state of Gujarat.
In another development, DLF Ltd had completed the transfer of its 33 megawatt wind farm located in Rajasthan state. The acquiring party is Leap Green Energy Pvt and it paid out INR 674 million or USD11 million tp the real estate firm.. The said sale, according to regulatory documents filed would be part of the efforts of the real estate developer to unload 'non-core assets'.
According to Bloomberg New Energy Finance, India's fragmented wind industry is very open for mergers and acquisitions. About USD1.1 billion in private equity buyouts and acquisitions since 2010 have been completed under the auspices of known banks such as Goldman Sachs Group Inc and Morgan Stanley.
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