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TAQA to acquire majority stake in Indian plants
(MENAFN) Abu Dhabi National Energy Co (TAQA) is planning to invest USD2 billion for the acquisition of hydropower assets in India, Arabian Business reported
TAQA plans to buy two hydropower plants currently owned by Jaiprakash Power Ventures in the Indian state of Himachal Pradesh
TAQA is to hold a majority stake in the plants, while IDFC Alternatives and PSP Investments will hold a minority stake
A source familiar with the matter said: "They are working to finalize it before the end of this quarter, reinforcing TAQA's confidence in the Indian market to complement its existing power generation business there.
TAQA plans to buy two hydropower plants currently owned by Jaiprakash Power Ventures in the Indian state of Himachal Pradesh
TAQA is to hold a majority stake in the plants, while IDFC Alternatives and PSP Investments will hold a minority stake
A source familiar with the matter said: "They are working to finalize it before the end of this quarter, reinforcing TAQA's confidence in the Indian market to complement its existing power generation business there.
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