MEIL Energy Private Ltd. (MEIL Energy), a wholly owned subsidiary of Megha Engineering & Infrastructures Ltd. (MEIL) has announced the acquisition of 100% stake in TAQA Neyveli Power Company Private Ltd. (TAQA Neyveli) from Abu Dhabi National Energy Company PJSC (TAQA).

TAQA Neyveli owns and operates a 250 MW lignite-fired power plant located in Neyveli, Tamil Nadu. The power plant has a long-term power offtake commitment with the State distribution companies 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 Energy said in a statement.

“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,” it said.

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,” he said.