Tata Power Renewable Energy Ltd, a 100 per cent subsidiary of Tata Power, has signed an agreement with Indo Rama Renewables Ltd to acquire its subsidiary, Indo Rama Renewables Jath Ltd, which owns a 30-MW wind farm in Sangli district of Maharashtra.
The transaction will be completed within the next few weeks, a statement issued by the Tata Power said.
The company did not disclose the valuation of the deal.
The wind farm, which is fully operational since July 2013, has executed a long-term power purchase agreement with the Maharashtra State Electricity Distribution Ltd and is registered under the Generation-Based Incentive scheme of the Union Ministry of New & Renewable Energy. With this acquisition, Tata Power’s total generation capacity will increase to 9,130 MW and its operational wind power generation capacity to 570 MW with wind turbines located across five States, the statement said.