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4h ago

TAQA Exits India’s Neyveli Lignite Plant in INR9.26 Billion Sale to MEIL

The divestment underscores TAQA’s shift toward a lower‑carbon power mix.

TAQA owned and operated the 250 MW lignite-fired power plant and has now fully exited its interest in TAQA Neyveli. Image: Canva
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Taqa has assets in countries including the UAE, Morocco, Oman, Saudi Arabia, the UK and the US. Victor Besa / The National

Overview

  • MEIL Energy has acquired 100% of TAQA Neyveli Power Company, which operates a 250 MW lignite-fired plant in Neyveli, Tamil Nadu.
  • The transaction is priced at INR9.26 billion, equivalent to about $104–105 million, according to company statements.
  • The plant delivers electricity under a long-term offtake agreement with the state distribution utility, and MEIL plans seamless operational integration.
  • MEIL says the deal accelerates its move from EPC contractor to integrated owner‑operator, taking its generation portfolio to more than 5.2 GW.
  • TAQA describes the sale as aligning with its emissions‑reduction goals, while it continues to operate coal capacity elsewhere, including Morocco’s 2 GW Jorf Lasfar plant.