MEIL Energy Acquires 250 MW Lignite-Based Power Plant in Tamil Nadu
Acquisition is an integral part of MEIL’s strategic transitioning from being a large diversified EPC conglomerate to an integrated developer, owner and operator of core infrastructure assets.
Hyderabad: MEIL Energy Private Limited (“MEIL Energy”), a wholly owned subsidiary of Megha Engineering & Infrastructures Limited (“MEIL”), announced the acquisition of 100% stake in TAQA Neyveli Power Company Private Limited (“TAQA Neyveli”) from Abu Dhabi National Energy Company PJSC (“TAQA”). 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.
TAQA Neyveli owns and operates a 250 MW lignite-fired power plant located in Neyveli, state of Tamil Nadu. The power plant has a long-term power offtake commitment with the state discom and has a well-established track record of delivering reliable and efficient power to meet the state’s growing energy demands. With more than 5.2 GW generation assets in its portfolio, this acquisition strengthens MEIL’s position across the energy value chain and supports its goal of building a resilient portfolio of operating assets that deliver reliable services at scale. MEIL aims to prioritize 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.
Commenting on the acquisition, Mr. Salil Kumar Mishra, MEIL Group CFO, said: ”This acquisition is a milestone in our journey to own and operate high-quality energy assets, and it advances our long-term strategy of complementing EPC excellence with the ownership of core 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. We are committed to developing a balanced and sustainable generation portfolio encompassing thermal, hydro, and renewable energy assets.”
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 the India’s power sector. MEIL has made significant investments across power generation, transmission, oil & gas, and renewable energy, and continues to pursue opportunities that contribute to India’s energy independence and economic resilience.
