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Tata Power May Sell Shares in Clean-Energy Unit Next Year

Tata Power Co., the utility business of India’s largest business group, is considering an initial public offering of its clean-energy unit next financial year.

The utility plans to increase wind and solar power capacity at Tata Power Renewable Energy Ltd. almost fivefold in the year to March 31 as the cost of renewable energy converges with fossil fuel-based grid power in India, Rahul Shah, chief of business development and renewables, said in an interview in Mumbai. Inducting an investor is also an option, he said.