TPREL is a division of Tata Power focusing on renewable energy generation. The subsidiary is currently operating 312MW of distributed generation plants including solar and wind in four Indian states.
In a press statement, Tata Power said TPREL acquired smart energy firm Welspun Renewable Energy Private Limited (WREPL) to expand its low carbon power generation portfolio.
The deal will help Tata Power improve its grid reliability at the same time meet national regulatory targets to lower carbon emissions.
The acquisition is claimed to be the largest deal in India’s clean energy segment.
TPREL will have total ownership of WREPL’s 1,141MW of renewable energy projects in ten Indian states.
[quote] The projects owned by WREPL include 150MW of wind power and 990MW of solar energy projects.
In addition to energy generation projects which TPREL is currently developing, Tata Power will operate 2,300MW of renewable energy projects.
The deal makes TPREL and its owner the largest renewable energy company in India.
Rahul Shah, CEO of TPREL, commented: “The Company continues to pursue growth in Renewable Energy space to create value through various organic and inorganic growth opportunities. This acquisition will enable the company to deliver significant value for all stakeholders as most of the assets are revenue generating and operating assets. ”
Renewable energy and energy efficiency
In early March, Tata Power Delhi partnered with the University of California for research and development of smart energy and energy efficiency technologies.
The two parties signed a memorandum of understanding to develop cost effective smart grid solutions including micro grids technologies for efficient energy distribution and increased integration of renewable energy sources onto grids in India and developing countries.
The partnership will also implement EV charging-smart grid interoperability and data analytics pilots. [Global consortium’s blueprint for Indian wind energy].
Praveer Sinha, CEO of Tata Power said: “…This collaboration is a vital step towards bringing innovative and cost-effective energy solutions to large sections of society in India and the developing world…”
The development follows Tata Power’s launch of a smart grid lab in Rohini for collaborative R&D of advanced technologies and innovations in electricity distribution products with industry, organizations and educational institutions.
Image credit: www.pymnts.com.