Tata Power has signed an agreement to acquire the entire holding of its solar power JV partner BP Alternative Energy Holding.
In early December 2011, BP had announced that it intends to quit solar business worldwide as they were not profitable. Now, Tata Power will sign a new technology agreement with BP to access certain technology till 2013. To provide a smooth transition in respect of branding and fulfilment of recertification requirements for solar PV (photovoltaic) modules, both the companies have agreed for a transition period for product and non-product related rebranding and certification.
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Tata Power mops up funds for solar project in Gujarat (14-December-11)