Tata Power’s wind capacity will rise to 437 megawatts with the deal, the company said today in an e-mailed statement. Tata didn’t say how much it paid Arlington, Virginia-based AES for the 39.2 megawatts of assets in Dwarka, Gujarat state.
Separately, DLF Ltd., India’s largest property developer, completed the sale of a 33-megawatt wind farm in Rajasthan state to Leap Green Energy Pvt. for 674 million rupees ($11 million), DLF said today in a filing. The sale is part of an effort by the real estate developer to divest “non-core assets,” it said.
India’s fragmented wind industry is ripe for mergers and acquisitions, according to Bloomberg New Energy Finance. Goldman Sachs Group Inc. and Morgan Stanley have led about $1.1 billion of private-equity buyouts, project and company acquisitions since 2010, according to a June estimate by the researcher.
To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com