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TAQA acquires stake in India's HSPL hydro plant
- United Arab Emirates: Monday, January 14 - 2013 at 04:25
Abu Dhabi National Energy Co (Taqa) has announced the acquisition of a minority interest in the developer of a 100 megawatt hydroelectric plant in northern India, with plans to fully acquire the firm at a later date, Reuters has reported. Taqa acquired an interest in Himachal Sorang Power Limited (HSPL) through a joint venture with Jyoti Structures Ltd (JSL), an Indian power infrastructure company. No value for the purchase was given. TAQA and JSL plan to progressively acquire 100% of the share capital of HSPL and will jointly operate the Sorang plant, which is due to begin operations later this year, it said.
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