Taqa raises $105m from sale of Indian power plant

TAQA to sell 250MW lignite power plant to India’s MEIL Energy

Abu Dhabi National Energy Company (TAQA) has agreed to sell its entire stake in TAQA Neyveli Power Company to India-based Megha Engineering & Infrastructures Limited (MEIL) Energy, for Rs9.26bn ($104.4m).

Taqa raises $105m from sale of Indian power plant

Abu Dhabi National Energy Co (Taqa) has sold its wholly owned Taqa Neyveli Power Company – a power plant – in India for INR9.3 billion ($105 million). The plant has been acquired by India-based Meil Energy Private Limited, an affiliate of Megha Engineering & Infrastructures Limited, Taqa said in a statement to the Abu Dhabi Securities Exchange on Thursday. The 250 megawatt lignite-fired power plant is located in the state of Tamil Nadu. The tran…