MEIL Energy acquires 250 MW lignite power plant in Tamil Nadu

New Delhi, Oct 30 (PTI) MEIL Energy Pvt Ltd, a wholly owned subsidiary of Megha Engineering & Infrastructures Ltd (MEIL), has acquired a 100 per cent stake in TAQA Neyveli Power Company Pvt Ltd from Abu Dhabi National Energy Company PJSC (TAQA) for an undisclosed sum of money.

"The acquisition marks a significant addition to MEIL's expanding energy portfolio and underscores the group's strategic transitioning from being a large diversified EPC conglomerate to an integrated developer, owner and operator of core infrastructure assets," the company said in a statement on Thursday.

TAQA Neyveli operates a 250 MW lignite-based power plant in Neyveli, Tamil Nadu, which supplies power under a long-term offtake agreement with the state electricity distribution company.

The acquisition expands MEIL's power generation portfolio to more than 5.2 GW and marks a step in the group's transition from an EPC contractor to an integrated developer, owner, and operator of infrastructure assets.

MEIL aims to prioritise seamless integration of TAQA Neyveli into its operating generation portfolio, with an emphasis on operational excellence and disciplined asset management to deliver long-term value for all its stakeholders.

"This acquisition is a milestone in our journey to own and operate high-quality energy assets," said Salil Kumar Mishra, Group CFO, MEIL. "It advances our long-term strategy of complementing EPC excellence with ownership of crore infrastructure assets. Our focus remains on expanding our footprint across the energy sector through strategic investments that enhance national energy security, ensure reliable supply, and support India's long-term growth." He reiterated the group's commitment to developing a balanced and sustainable generation portfolio encompassing thermal, hydro and renewable energy assets.

MEIL said it will focus on seamless integration of the Neyveli plant with its existing generation assets, emphasising operational excellence and disciplined asset management.

The company added that the deal aligns with its broader vision to build a diversified energy portfolio across thermal, hydro, and renewable segments through both organic expansion and strategic acquisitions.

"The acquisition of TAQA Neyveli aligns with MEIL's vision to build a robust, diversified energy portfolio through both organic and inorganic growth and reflects the company's confidence in the fundamentals of India's power sector. MEIL has made significant investments across power generation, transmission, oil and gas, and renewable energy, and continues to pursue opportunities that contribute to India's energy independence and economic resilience," the statement said.

Headquartered in Hyderabad, MEIL is one of India's largest infrastructure conglomerates, with operations spanning power, hydrocarbons, manufacturing, irrigation, and transportation. PTI ANZ ANZ SHW