MEIL Energy acquires 250 MW energy plant in Tamil Nadu

MEIL Energy Private Ltd. (MEIL Energy), a completely owned subsidiary of Megha Engineering & Infrastructures Ltd. (MEIL) has introduced the acquisition of 100% stake in 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 energy plant situated in Neyveli, Tamil Nadu. The energy plant has a long-term energy offtake dedication with the State distribution corporations and has a well-established observe document of delivering dependable and environment friendly energy to fulfill the State’s rising power calls for.

“With greater than 5.2 GW era property in its portfolio, this acquisition strengthens MEIL’s place throughout the power worth chain and helps its aim of constructing a resilient portfolio of working property that ship dependable companies at scale,” MEIL Energy stated in an announcement.

“MEIL goals to prioritise seamless integration of TAQA Neyveli into its working era portfolio, with an emphasis on operational excellence and disciplined asset administration to ship long-term worth for all its stakeholders,” it stated.

Salil Kumar Mishra, MEIL Group CFO, stated, “This acquisition is a milestone in our journey to personal and function high-quality power property, and it advances our long-term technique of complementing EPC excellence with the possession of core infrastructure property.”

“Our focus stays on increasing our footprint throughout the power sector by way of strategic investments that improve nationwide power safety, guarantee dependable provide, and help India’s long-term development,” he stated.