TAQA to sell 250MW lignite power plant to India’s MEIL Energy

Abu Dhabi National Energy Company (TAQA) has agreed to sell its entire stake in TAQA Neyveli Power Company to India-based Megha Engineering & Infrastructures Limited (MEIL) Energy, for Rs9.26bn ($104.4m). TAQA Neyveli operates a 250MW lignite-fired power plant in the state of Tamil Nadu, India. MEIL Energy is an affiliate of MEIL, an Indian conglomerate focused on infrastructure, energy, and high-tech manufacturing. This transaction, which supports TAQA’s strategy to reduce its scope 1 and scope 2 emiss ...