Tata Power likely to divest part of stake in Mundra UMPP

Tata Power Company, the largest private sector power utility in country, is likely top divest a part of its shareholding in an ultra mega power project (UMPP) in order to finance capacity additions of 5,660 MW.

However, the extent of amount is still undecided in Coastal Gujarat Power, which is setting up the 4,000 MW Mundra UMPP. It is also learnt that the company is also mulling to dilute equity in Maithon Power, a 74:26 joint venture with Damodar Valley Corporation.