Tata Power to buy BP’s stake in Tata BP solar

Tata Power Company Limited has signed a deal with BP alternative energy holdings to acquire the latter’s 51percent stake and preference shares in Tata BP Solar India Private Limited.Following the acquisition, Tata Power would own 100percent stake in Tata BP Solar.The former would have access to certain BP technologies till 2013 and an agreement  for this is expected to be signed soon. The stake slae by BP is in line with its decision to exist the solar power business over the next few months.Tata BP solar was incorporated in 1989 as a joint venture between UK based BP solar and Tata Power  to execute solar power projects.

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