Tuesday, February 6, 2007

Tata Power, Kalpataru, Lanco to join Reliance Energy in bidding for Globeleq’s assets

Tata Power, Kalpataru, Lanco Infratech are some of the companies that have joined the race for British power major Globeleq’s assets. The Anil Ambani Group has already shown interest in Globeleq’s generating assets of 4500 MW in Asia and Africa valued at $2 bn (See Related Post). Lanco Infratech is Globeleq’s partner in the Sasan ultra-mega power project. Globeleq is searching for a buyer for its 70% stake in Sasan. Kalpataru, the Mumbai-based real estate and power transmission group, has a strong presence in North Africa with its transmission business and is said to be also in the race for the African assets.

Read the Business Standard article.

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