Tata Power Company has acquired a 51 per cent stake in Tata BP Solar from BP Alternative Energy, according to filing with the stock exchanges.

"Tata Power completed the purchase of 51% equity shares of Tata BP Solar India Limited on June 28, which were held by BP Alternative Energy Holdings Limited. Consequently, Tata BP Solar India Limited is now a wholly owned subsidiary of the company," the company wrote in the filings.

The shares of the company were trading at Rs 102.20, up 3.28 per cent this afternoon at the time of reporting. A total of 3,10,750 shares have already exchanged hands at the markets. The company now commands a market value of Rs 24,252.80 crore. Tata BP Solar India Limited will now operate as a wholly owned subsidiary of the company.

Meanwhile, several reports suggest that the company, which is part of the larger Tata group, is looking at countries such as Indonesia and South Africa to acquire coal reserves in order to ensure supply as the domestic supply chain is insufficient of supplying coal for running smooth operations at the power plants.