+
MEIL Buys TAQA Neyveli Power for Rs 9.26 Billion
POWER & RENEWABLE ENERGY

MEIL Buys TAQA Neyveli Power for Rs 9.26 Billion

MEIL Energy Private Ltd, a wholly owned subsidiary of Megha Engineering & Infrastructures Ltd (MEIL), has completed the acquisition of TAQA Neyveli Power Company Pvt Ltd from Abu Dhabi National Energy Company PJSC for Rs 9.26 billion.

TAQA Neyveli operates a 250 MW lignite-fired power plant in Neyveli, Tamil Nadu, which has a long-term power offtake agreement with the State distribution company. The facility has a proven record of reliable and efficient power generation, supporting Tamil Nadu’s rising energy needs.

Salil Kumar Mishra, Chief Financial Officer of MEIL Group, described the acquisition as a strategic milestone in the company’s expansion journey. “This acquisition marks a key step in our goal to own and operate high-quality energy assets. It aligns with our long-term strategy to complement EPC excellence with ownership of core infrastructure assets,” he said.

Mishra added that MEIL remains committed to developing a balanced and sustainable energy portfolio, spanning thermal, hydro, and renewable power, to enhance national energy security and ensure reliable power supply for India’s long-term growth.

With over 5.2 GW of generation assets currently in its portfolio, the acquisition further strengthens MEIL’s position across the energy value chain, reinforcing its strategy to build a resilient and diversified portfolio capable of delivering reliable and scalable services.

MEIL said it would ensure the seamless integration of TAQA Neyveli into its existing operations, prioritising operational excellence and disciplined asset management to deliver long-term value to stakeholders.

The company noted that the acquisition highlights its strategic transition from a diversified EPC conglomerate into an integrated developer, owner, and operator of core infrastructure assets.

MEIL Energy Private Ltd, a wholly owned subsidiary of Megha Engineering & Infrastructures Ltd (MEIL), has completed the acquisition of TAQA Neyveli Power Company Pvt Ltd from Abu Dhabi National Energy Company PJSC for Rs 9.26 billion. TAQA Neyveli operates a 250 MW lignite-fired power plant in Neyveli, Tamil Nadu, which has a long-term power offtake agreement with the State distribution company. The facility has a proven record of reliable and efficient power generation, supporting Tamil Nadu’s rising energy needs. Salil Kumar Mishra, Chief Financial Officer of MEIL Group, described the acquisition as a strategic milestone in the company’s expansion journey. “This acquisition marks a key step in our goal to own and operate high-quality energy assets. It aligns with our long-term strategy to complement EPC excellence with ownership of core infrastructure assets,” he said. Mishra added that MEIL remains committed to developing a balanced and sustainable energy portfolio, spanning thermal, hydro, and renewable power, to enhance national energy security and ensure reliable power supply for India’s long-term growth. With over 5.2 GW of generation assets currently in its portfolio, the acquisition further strengthens MEIL’s position across the energy value chain, reinforcing its strategy to build a resilient and diversified portfolio capable of delivering reliable and scalable services. MEIL said it would ensure the seamless integration of TAQA Neyveli into its existing operations, prioritising operational excellence and disciplined asset management to deliver long-term value to stakeholders. The company noted that the acquisition highlights its strategic transition from a diversified EPC conglomerate into an integrated developer, owner, and operator of core infrastructure assets.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code