Tata Power International Pte. Ltd (TPIPL), a Singapore company and wholly-owned subsidiary of Tata Power signed an agreement with KS Orka Renewables Pte. Ltd for the sale of its 50% stake in OTP Geothermal Pte. Ltd, Tata Power said in a release.
OTP, a 50:50 joint venture with Origin Energy Ltd, holds a 95% interest in Indonesia's PT Sorik Marapi Geothermal Power Project in North Sumatra.
The aggregate cash consideration of TPIPL's 50% stake is $30 million, the release added.
The stock opened at Rs 64.65 and touched a high of Rs 65.45. At 1:50pm, over 6 million shares were traded on both the stock exchanges.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%