TATA Power Co. Ltd. is selling a 30% stake in its Indonesian subsidiary, PT Mitratama Perkasa, to Indonesian conglomerate Bakrie Group for $120 million as part of its efforts to pay off loans incurred on its Mundra Ultra Mega Power Project and reduce losses. The company said that TATA Power holds the stake in Mitratama Perkasa through its Indonesian subsidiary PT Sumber Energi Andalan Tbk, which signed the deal with Bakrie Group. TATA Power, through its subsidiaries, would continue to hold 30% stake in PT Kaltim Prima Coal.