New Delhi : Tata Power said it has terminated an agreement with Nagpur-based Ideal Energy Projects to acquire a 270 MW coal-based power project in Maharashtra due to non-fulfilment of certain conditions. In a regulatory filing, the company announced “termination of a share purchase agreement (SPA) with Ideal Energy Projects Ltd for acquisition of 100 per cent stake in a 270 MW coal based thermal power project in Maharashtra, extendable to 540 MW”.      The two firms had in December 2014 reached an agreement on the project.

Ideal Energy owns a 540 MW thermal power plant near Nagpur, of which 270 MW was commissioned in May 2013. Tata Power has an installed gross generation capacity of 8,699 MW.  It has set a target of generating 18,000 MW by 2022.

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