Tata Power Renewable Energy Limited (TPREL), a wholly-owned subsidiary of Tata Power, India’s largest integrated power company, has signed a share purchase agreement (SPA) to acquire Indo Rama RenewablesJath Limited (IRRJL) which owns a 30 MW wind farmin Sangli District of Maharashtra. IRRJL is a 100-percent step down subsidiary of Indo Rama Synthetics India Limited (IRSL), one of India’s largest players in the business of manufacturing polyester having an integrated manufacturing complex at Butibori, near Nagpur (Maharashtra).

Vishal Lohia, executive director, Indo Rama Synthetics, said, “Divestment from this wind asset shall enable us to have a more focused and effective approach towards managing our core business of polyester.”

IRRJL’s wind farm in Sangli, which is fully operational since July 2013, has executed a long-term power purchase agreement with Maharashtra State Electricity Distribution Limited and is registered under the Generation Based Incentive scheme of Ministry of New & Renewable Energy. The wind farm comprises 15 numbers of 2000 KW G 97 wind turbine generators (WTGs) supplied by GamesaIndia.

For further information Business Standard