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FINANCIAL NEWS
Abu Dhabi’s TAQA buys into India’s HSPL
13 Jan 2013
(MENAFN) Abu Dhabi National Energy Company (TAQA) has agreed to buy a minority stake in India’s Himachal Sorang Power Limited (HSPL), Reuters reported.
The deal was made through a joint venture with Jyoti Structures Ltd (JSL), an Indian power infrastructure company.
HSPL is the developer of a 100 megawatt hydroelectric plant in northern India.
TAQA, 75 percent owned by the Abu Dhabi government, and JSL have plans to fully buy HSPL and will jointly operate the Sorang plant, which is due to begin operations later this year.
TAQA already operates a 250 megawatt lignite power station in the Neyveli region of southern India.
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