For divestment of Welspun Renewables Energy
Welspun Energy, in which Welspun Enterprises holds 15.49% stake, has signed a SPA with Tata Power Renewable Energy (100% subsidiary of Tata Power Company) for divestment of its subsidiary Welspun Renewables Energy. The deal represents the largest transaction in renewables space in India.WREPL has the largest operating solar portfolio in India spread across the ten states of India. WREPL has about 1140 MW of renewable power projects comprising of about 990 MW solar power projects and about 150 MW of wind power projects. The enterprise value (100% basis) of the transaction excluding closing adjustments is Rs 9249 crore. The transaction is expected to be completed by end of September 2016.
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