ABU DHABI, March 2 A consortium led by Abu Dhabi
National Energy Co (TAQA) has agreed to buy two
hydroeletric power plants in India from Jaiprakash Power
Ventures for about $616 million, TAQA said on Sunday.
State-run TAQA, with a 51 percent stake in the consortium,
will control the operations and management of both plants under
the deal. One of Canada's largest institutional investors will
own 39 percent and IDFC Alternatives' India Infrastructure Fund
II will hold 10 percent, it said.
In addition to its $616 million expenditure, the consortium
will acquire the plants' non-recourse project debt, TAQA said
without giving a value for the debt.
(Reporting by Stanley Carvalho; Writing by Andrew Torchia)