Tata Power Co. Ltd has agreed to acquire renewable energy company Welspun Renewables Energy Pvt. Ltd.

Tata Power Co. Ltd on 12 June 2016 agreed to acquire renewable energy company Welspun Renewables Energy Pvt. Ltd.
Tata Power took the step in a bid to grow its clean energy portfolio to 2.3 giga watts (GW).
•    Tata Power’s renewable energy unit Tata Power Renewable Energy Ltd (TPREL) has signed an agreement to acquire Welspun Renewables Energy Private Ltd (WREPL).
•    It is the largest transaction in renewable space in India.
•    The acquisition is being made at an enterprise value of 9249 crore rupees.
•    TPREL will acquire 1140 MW solar and wind power assets of Welspun Energy Private Ltd.
•    The deal is expected to close in September 2016.