Tata, Kalpataru in race for Globeleq

Follow Anil Ambani group and Lanco for asset valuation.

Tata Power and the Kalpataru Group have joined the race for British power major Globeleq's assets. The Anil Ambani group and Lanco, Globeleq's Indian partner, have already shown interest in Globeleq's generating assets of 4500 MW in Asia and Africa with a ticket size of $2 billion.

A Tata spokesperson and a senior Lanco executive confirmed that their companies were considering bidding for the assets. Lanco Infratech is Globeleq's partner in the Sasan ultra mega power project. Globeleq is searching for a buyer for its 70 per cent stake in Sasan.

Kalpataru, the Mumbai-based real estate and power transmission group, has a strong presence in North Africa with its transmission business and is said to be also in the race for the African assets.

Anil Ambani's Reliance Energy has also indicated its interest in Globeleq's assets. Sources in the Ambani group, however, indicated that the group was yet to assess the valuation of the assets.

An REL spokesperson said, "We are studying the assets for putting in an indicative bid." The indicative bids close on February 16.

Interestingly, Globeleq had expressed an interest in taking a majority stake in REL's assets in BSES Kerala and BSES Andhra Pradesh and the Salgaocar Power Company in Goa in 2005.