TAQA Exits India’s Lignite Power Sector, Sells 250 MW Neyveli Plant to MEIL Energy for INR 9.26 Billion

Abu Dhabi’s TAQA has finalized the sale of its entire equity stake in TAQA Neyveli—the entity managing a 250 MW lignite-fired power plant in Tamil Nadu, India—to MEIL Energy Private Limited. The transaction, announced on October 30, 2025, is valued at INR 9.26 billion (approximately AED 387 million). This move aligns with TAQA’s broader strategy to optimize its global portfolio and redirect investments toward core and future-centric energy assets.

TAQA Neyveli, commissioned in 2002, has been a key supplier of power to the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) under long-term agreements. With this acquisition, MEIL Energy (Megha Engineering & Infrastructures Limited) further strengthens its position in the Indian energy market, gaining a significant lignite power generation asset.

The divestment underscores shifting priorities for international utilities, as global energy companies reassess regional operations and focus on renewables, decarbonization, and value-driven ventures.

Key Highlights:

TAQA sells 100% stake in TAQA Neyveli to MEIL Energy Pvt Ltd.

Asset sold: 250 MW lignite-based power plant, Tamil Nadu.

Deal value: INR 9.26 billion (approx. AED 387 million).

Acquisition boosts MEIL Energy’s core energy portfolio in India.

TAQA’s move is part of a strategic global portfolio realignment.

Neyveli plant remains key supplier to TANGEDCO under LT PPA.

Sources: MarketScreener, Khaleej Times, Company Announcements