7 months ago
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MEIL Energy Private Ltd. (MEIL Energy), a wholly owned subsidiary of Megha Engineering & Infrastructures Ltd. (MEIL) has announced the acquisition of 100% involvement successful TAQA Neyveli Power Company Private Ltd. (TAQA Neyveli) from Abu Dhabi National Energy Company PJSC (TAQA).
TAQA Neyveli owns and operates a 250 MW lignite-fired powerfulness works located successful Neyveli, Tamil Nadu. The powerfulness works has a semipermanent powerfulness offtake committedness with the State organisation companies and has a well-established way grounds of delivering reliable and businesslike powerfulness to conscionable the State’s increasing vigor demands.
“With much than 5.2 GW procreation assets successful its portfolio, this acquisition strengthens MEIL’s presumption crossed the vigor worth concatenation and supports its extremity of gathering a resilient portfolio of operating assets that present reliable services astatine scale,” MEIL Energy said successful a statement.
“MEIL aims to prioritise seamless integration of TAQA Neyveli into its operating procreation portfolio, with an accent connected operational excellence and disciplined plus absorption to present semipermanent worth for each its stakeholders,” it said.
Salil Kumar Mishra, MEIL Group CFO, said, “This acquisition is simply a milestone successful our travel to ain and run high-quality vigor assets, and it advances our semipermanent strategy of complementing EPC excellence with the ownership of halfway infrastructure assets.”
“Our absorption remains connected expanding our footprint crossed the vigor assemblage done strategical investments that heighten nationalist vigor security, guarantee reliable supply, and enactment India’s semipermanent growth,” helium said.
