TAQA-Led Group Puts Up $616M For 2 India Hydro Plants

Law360, New York (March 3, 2014, 3:39 PM EST) -- State-owned Abu Dhabi National Energy Co. PJSC, commonly known as TAQA, said Sunday that it is partnering with Canadian and Indian investment funds to buy a pair of hydroelectric power plants in India from Indian infrastructure conglomerate The Jaypee Group for $616 million.

The consortium, which includes an unnamed Canadian institutional investor and a unit of Indian infrastructure investment firm IDFC Ltd., agreed to purchase the Baspa Stage II and Karcham Wangtoo plants in the northern Indian state of Himachal Pradesh from Jaypee unit Jaiprakash Power...
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