Tatas to buy out BP in Tata Solar

Tata Power, on Tuesday, announced the signing of a share purchase agreement with BP Alternative Energy Holdings to purchase their 51 per cent equity and preference shares in the Joint Venture - Tata BP Solar.

 On completion of transaction, Tata Power will own 100 per cent of the company.
Tata Power and BP have agreed that the company will continue to enjoy access to certain BP technology until 2013. The company and BP will enter into a technology agreement to give effect to this understanding.