Tata Power Renames Solar Unit, BP Holdings

http://blogs.wsj.com/dealjournalindia/2012/08/30/tata-power-renames-solar-unit/

 

NEW DELHI — Tata Power Co. 500400.BY -1.40% Thursday said it has renamed its solar-energy venture and appointed a new chief executive for the unit.

Tata BP Solar India Ltd. will now be called Tata Power Solar Systems Ltd., the country’s largest private power company by capacity said in a statement.

The utility had in December signed an agreement to buy BP PLC BP.LN -2.92% unit BP Alternative Energy Holdings’ 51% stake in the joint venture set up in 1989.

Tata Power said it has appointed Ajay Goel as the chief executive of the solar company. Mr. Goel succeeds K. Subramanya, who had resigned in May.

Tata Power Solar is engaged in the engineering and construction of solar-power projects. It also manufactures solar equipment.

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