Tata Power Buys 40% Stake In $700M Eurasian Hydro Project

Law360, New York (May 10, 2013, 6:05 PM EDT) -- Tata Power Co. Ltd. has inked an agreement with Norway's Clean Energy Invest AS and the World Bank's investment arm, the International Finance Corp., to develop a $700 million hydroelectric project in the nation of Georgia to provide power to Turkey, the Indian integrated power giant said Friday. 

Tata Power will work with Clean Energy Invest and IFC InfraVentures to develop the hydro power facility in three stages. The first stage of the project, which when completed will have an aggregate capacity of 400 megawatts, is...
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