Tata Power $1.42 billion acquisition of Welspun Renewables energy portfolio

Overview:

• Tata Power has signed an agreement with Welspun Energy to acquire the latter's green energy portfolio for $1.4 billion.
• The portfolio is 88% solar and 12% wind. 
• Welspun Renewables is wholly owned by Welspun Energy which is co-owned by the listed Welspun Enterprises. The company operates approximately 1140MW of renewable power projects including the largest solar projects in India. 
• Barclays and JM Financial are the financial advisers on the deal, while KPMG India was the accounting and tax adviser. 

Wai Yee Tsang - Journalist