UAE-led group expects to sign $2 bn India power deal soon: Sources


TAQA, leading a consortium that plans to invest around $2 billion to acquire hydropower assets in India, expects to close the deal this quarter.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

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Categorised in: Power, Sector News

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