MEIL acquires 100% stake in TAQA Neyveli Power Co for Rs 926 crore
Hyderabad: MEIL Energy Private Limited, a wholly owned subsidiary of Megha Engineering & Infrastructures Limited (MEIL), on Thursday announced the acquisition of a 100% stake in TAQA Neyveli Power Company Private Limited from Abu Dhabi National Energy Company PJSC (TAQA). Although MEIL Group did not reveal the deal size, TAQA Group stated it was struck for a consideration of Rs 926 crore.
TAQA Neyveli owns and operates a 250 MW lignite-fired power plant in Neyveli, Tamil Nadu. The power plant has a long-term power offtake commitment with the state discom.
