11.12.14

Tata Power buys Nagpur plant

After Adani Power and JSW Energy, Mumbai-based Tata Power has hit the mergers and acquisitions trail with the purchase announcement of a 540-megawatt project in Nagpur. The Cyrus Mistry-led Tata Power is buying the coal-fired power plant from the Mhaiskar family , promoter of IRB Infrastructure, for an estimated Rs.3,000 crore. With this deal, the power sector, which has been hit by regulatory uncertainties and fuel supply disruptions, has seen M&A deals worth over Rs 22,000 crore as big power producers consolidate their business.
Tata Power's proposed deal will ramp up its total capacity to 8,885 MW, which is a tad behind leader Adani Power's 11,040 MW capacity .

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