Welspun Enterprises Limited has informed the Exchange that the Company indirectly holds 13.66% equity stake in Welspun Renewables Energy Private Limited ( WREPL ). WREPL has been divested to Tata Power Renewable Energy Limited, a 100% subsidiary of Tata Power Company Limited.
The deal represents the largest transaction in renewables space in India. WREPL has the largest operating solar portfolio in India spread across ten states of India. WREPL has about 1,141 MW of Renewable Power Projects comprising of Solar Power Projects and Wind Power Projects.
The enterprise value of the transaction excluding working capital and cash stands at INR 9,249 Crores. Barclays acted as exclusive financial advisor and Cyril Amarchand Mangaldas acted as legal advisor to Welspun for this transaction.