Tata Power to buy BP's share in Indian PV joint venture

The Indian power group has agreed to purchase BP’s 51% stake in Tata BP Solar, leaving it with full ownership of one of India’s biggest PV businesses.

BP announced last week that it plans to wind down its global BP Solar unit after deciding that the sector could not deliver sufficient returns.

Under the agreement, Tata Power will continue to have access to certain BP technology until 2013.

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