Tata Power Renewable Energy Ltd (TPREL), an arm of Tata Power, has completed 100 per cent share purchase in Welspun Renewable Energy Pvt Ltd (WREPL) and its subsidiaries. Tata Power had announced that TPREL will acquire WREPL through a share purchase agreement (SPA) at an enterprise value of Rs. 9,249 crore subject to closing adjustments. This acquisition represents the largest transaction in the renewables space in India. WREPL 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, it said. Out of 1,141 MW renewable portfolio, over 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation, it added. TPREL currently operates 312 MW of renewable power capacity and 500 MW of renewable assets are being carved out of Tata Power into TPREL through a court process. In addition, about 400 MW of solar and wind power projects are under implementation. TPREL, with all these assets, will have renewable assets portfolio of about 2,300 MW, making it the largest renewable power company in India.
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