Tata power acquires Welspun Renewable Energy

Tata Power could be the stock of September 15, as Tata power has made fresh acquisition. The company which has been in news for joint ventures and new launches, this time has made a loud noise by the recent acquisition. 

Company on September 14 has informed bourses that the company has completed the acquisition of 100 per cent shareholding in Welspun Renewable Energy Private Ltd., and its subsidiaries. WREP has one of the largest operating solar portfolios in India, spread across ten states. It has about 1,141 MW of Renewable Power Projects comprising about 990 MW Solar Power Projects and about 150 MW of Wind Power Projects. Out of 1,141 MW renewable portfolio, over 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation.

Shares of the company which closed at 75.25 on Wednesday, on September 15, opened at Rs 76.20 and as at 9.19 am are up by 1.59 per cent. Shares of the company in the last 6 months, have surged by 30 per cent. On September 9, company informed the bourses that "Tata Power and ICICI Venture Partner will launch Power Platform with global investors."