ABU DHABI: Abu Dhabi National Energy Co (TAQA), leading a consortium that plans to invest around $2 billion to acquire hydropower assets in India, expects to close the deal this quarter, three sources familiar with the matter told Reuters.
TAQA, majority-owned by the Abu Dhabi government, is buying two hydropower plants owned by Jaiprakash Power Ventures in the northern Indian state of Himachal Pradesh.
The plants have a total capacity of 1,300 megawatts. TAQA plans to take a majority stake in the plants while India’s IDFC Alternatives and PSP Investments, a Canadian pension fund manager, will hold minority stakes, the sources said. Read more