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Tata Power Company, India’s largest private power may acquire majority stake in InterGen NV  

MUMBAI: Tata Power Company, India’s largest private power utility, is in talks to acquire a majority stake in the UK-based power generator InterGen NV from GMR Infrastructure to scale up its global presence.

“We are talking to several companies including InterGen for a possible acquisition,” chairman Ratan Tata told shareholders at the company’s 91st annual general meeting on Wednesday. InterGen, with generation capacity of over 6,300 megawatts (mw), has power plants in UK, Netherlands, Mexico, Philippines and Australia, according to its website.

“Tata Power has acquired a few companies in the recent past but this deal could help it add capacities at a faster pace,” said Jigisha Jaini, senior research analyst at Jaypee Capital Services.

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