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Tata Seeks Investors for Clean Energy Expansion in India

Feb 6, 2013
(Bloomberg)

Tata Power Co. (TPWR), India's second- largest generator, is seeking investors to help its renewables unit more than double capacity in five years and acquire projects at home and overseas.

The unit of India's largest business group, which plans to spend about 17.5 billion rupees ($328 million) annually, may also consider selling shares in Tata Power Renewable Energy Ltd., Rahul Shah, chief of business development at the generator, said in a telephone interview from Mumbai. The company plans to build 2,000 megawatts of wind, solar, hydro and geothermal plants from a total of 852 megawatts last year.