6 August 2008 – India’s biggest electricity generator outside state control, Tata Power, has announced that it is to make a bid for Senoko Power, Singapore’s largest power utility.
“We confirm the development,’ Mumbai-based Tata Power said in a statement today after the Business Standard reported that Senoko Power may be sold for more than $3bn. The Indian company will get access to generation capacity of 3300 megawatts should it win the bid, the report said.
Bloomberg reports that the acquisition will be Tata Power’s second large investment overseas. The utility spent $1.2bn on buying two mines in Indonesia last year to secure coal supplies. Tata Power has invested 240bn rupees ($5.7 bn) to build 5600 megawatts of thermal and wind power capacity across India.