Technicians work at an oil rig manufactured by Megha Engineering and Infrastructures Limited (MEIL) at an Oil and Natural Gas Corp (ONGC) plant, during a media tour of the plant in Dhamasna village in the western state of Gujarat, India, August 26, 2021.

Indian company Megha Engineering & Infrastructures Ltd. (MEIL) announced on Thursday that it has acquired a thermal power plant in the southern state of Tamil Nadu from Abu Dhabi-based energy group TAQA (TAQA.AD). The acquisition marks a strategic move by MEIL to expand its power generation portfolio and strengthen its position in India’s energy sector.

Under the agreement, MEIL’s subsidiary, MEIL Energy, will assume control of TAQA Neyveli Power Company, which owns and operates the coal-based thermal power facility. The 250-megawatt lignite-fired plant supplies electricity under a long-term power offtake agreement with the state’s power distribution company, ensuring stable and consistent energy delivery to meet Tamil Nadu’s growing electricity demand.

MEIL said the Neyveli plant has a strong record of providing reliable and efficient power to the grid, contributing significantly to the region’s energy stability. The company noted that the acquisition aligns with its strategy to enhance generation capacity across diversified energy sources, including conventional and renewable power.

Founded in 1989 and headquartered in Hyderabad, MEIL has grown into one of India’s leading infrastructure and engineering enterprises. Its portfolio includes more than 5.2 gigawatts of power generation assets spanning thermal, hydro, and renewable energy projects. With the addition of the Neyveli plant, the company aims to further strengthen its presence in southern India’s power sector while maintaining its focus on sustainable and efficient energy operations.

The transaction represents a continuation of MEIL’s broader expansion strategy within India’s energy market, as the company actively seeks investment opportunities to bolster domestic generation capacity. The firm’s diversified infrastructure portfolio also covers areas such as oil and gas, water management, and transportation, reflecting its role in supporting India’s industrial and economic growth.

For TAQA, the sale of its Neyveli Power Company marks part of its ongoing effort to optimize its international asset portfolio. The company, headquartered in Abu Dhabi, operates across power generation, water desalination, and energy infrastructure segments in several countries.

MEIL emphasized that the newly acquired plant will continue to prioritize operational efficiency and environmental compliance while maintaining reliable electricity supply for Tamil Nadu’s consumers. The company stated that the acquisition reinforces its long-term commitment to addressing India’s increasing energy needs through both conventional and sustainable sources.

Through this acquisition, MEIL seeks to strengthen its contribution to India’s overall power generation capacity, ensuring energy reliability and supporting the nation’s industrial and residential electricity requirements.

by Reuters