Abu Dhabi's Taqa has acquired a minority stake in India's Himachal Sorang Power, which is developing a 100 megawatt hydroelectric plant in the country.
Construction of the Sorang hydroelectric project is 85 per cent complete and the plant is expected to begin operations in 2013, a Taqa spokesperson said. Taqa didn't provide the size or value of the stake purchase.
The acquisition was made through a joint venture with Jyoti Structures, an Indian power infrastructure company, which signed a memorandum of understanding with Taqa in mid-2011 to explore investment opportunities in the sector, according to the UAE-based company.
Abu Dhabi's Taqa acquires stake in Indian hydroelectric firm - The National
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