Tata Power’s wholly owned subsidiary Tata Power Renewable Energy Ltd (TPREL) operates 294MW of renewable power capacity, with about 400MW of solar and wind projects under implementation. India plans to install 100GW of solar power capacity and 60GW of wind power capacity by 2022 to lower dependence on coal-fuelled electricity. The acquisition will give Tata Power a combined renewable energy capacity of 2.3 gigawatts (GW) between solar and wind. Photo: Priyanka Parashar/MintMumbai: Tata Power Co. Ltd’s purchase of Welspun Renewables Energy Pvt. The Welspun acquisition gives Tata Power a combined renewable energy capacity of 2.3GW, a little less than sector leader ReNew Power at 2.7GWTata Power’s billion-dollar bet comes at a time when the government has set ambitious targets for the clean energy sector.

Source: Mint June 13, 2016 21:14 UTC