TAQA-led consortium plans to acquire two Indian hydropower plants

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A consortium led by the Abu Dhabi National Energy Co (TAQA) is expected to close on a pair of hydropower projects in India, news sources in Asia report.

The US$2 billion deal would see TAQA (ADX: TAQA) take control of two unnamed plants from India's Jaiprakash Power Ventures. The projects have a combined output capacity of 1,300 MW and are located in the northern Himachal Pradesh state.

The deal is structured so TAQA would take a majority interest in the projects, while India's IDFC Alternatives and Canada's PSP Investments holding the remainder.

HydroWorld.com reported in January that TAQA had acquired a minority interest in the 100-MW Sorang hydropower project, which is also located in India's north.

For more news from Asia, visit here.

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