Tata Power signs an agreement with Maharashtra company to sell 32 MW operating wind assets

Tata Power has signed a binding agreement with an undisclosed firm to sell its 32 MW operating wind assets in Maharashtra for an undisclosed sum.

Tata Power signs an agreement with Maharashtra company to sell 32 MW operating wind assets
The power from these assets is currently tied up with the company's distribution business under a long-term power purchase agreement. Photo: Reuters
By PTI
Updated: Tue, Apr 23, 2019
09:22 pm
Mumbai, PTI
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Tata Power — India's largest integrated power company — has signed a binding agreement with an undisclosed firm to sell its 32 MW operating wind assets in Maharashtra for an undisclosed sum. 

The power from these assets is currently tied up with the company's distribution business under a long-term power purchase agreement.

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The sale is part of its effort to restructure the portfolio to concentrate on building scale in few locations and venturing out of small, isolated sites thereby optimizing operating costs, the company said Tuesday, adding it will grow capacity both by organic and inorganic route.