Enterprise value (100% basis) of the transaction is INR 9249 Crore (excluding working capital and cash)
JKNT
Jammu, September 19: Welspun Energy Private Limited, in which Welspun Enterprises Limited holds 15.49% stake, today announced the completion of sale for Welspun Renewables Energy Private Limited (“WREPL”) and its subsidiaries to Tata Power Renewable Energy Limited (“TPREL”), a subsidiary of Tata Power Company Limited. This was concluded at an Enterprise Value of INR 9249 Crore (excluding working capital and cash), representing India’s largest renewable energy transaction.
WREPL has one of the largest operating solar portfolios in India spread across ten states. It has about 1,141 MW of Renewable Power Projects comprising of about 990 MW Solar Power Projects and about 150 MW of Wind Power Projects. Out of 1,141 MW renewable portfolio, over 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation.
TPREL with all these assets, will have renewable assets portfolio of about 2,300 MW making it the largest Renewable Power Company in India with a Generation Capacity of over 10,000 MW making it India’s largest integrated power company.
Speaking on the occasion, B K Goenka, Chairman-Welspun Group said, “The deal represents a win-win transaction for both Welspun and Tata Power as our strong portfolio of revenue generating assets in the renewable energy space presents an attractive proposition to TPEL. Welspun continues its journey of consolidation and value creation for all its stakeholders by enhancing our focus on our core businesses.”
