Tata Power offloads AHPC to GVK Hydel

Tata Power Company has signed a share purchase agreement with GVK Hydel to divest its entire stake in Alaknanda Hydro Power Company (AHPC) for Rs 3.12 crore.

According to a release issued by Tata Power Company to the BSE today, the company had acquired 100% equity in AHPC from Mauritian Synergies Hydro Asia (SHA) in 2003-2004, for a 330 mw run of the river hydro project at Shrinagar in Uttranchal.

"In order to keep its focus on several mega power projects, the company feels it appropriate to divest this project," the release added.