Torrent Power, an integrated power utility of Torrent Group, has acquired a 25 MW solar power plant in Gujarat for Rs 163 crore.
The company has entered into a share purchase agreement with Blue Daimond Properties Pvt Ltd and Balrampur Chini Mills Ltd for the acquisition of 100% equity share capital of a Special Purpose Vehicle (SPV), Visual Percept Solar Projects Pvt Ltd. The SPV operates a 25 MW solar plant in Gujarat.
The SPV has a long-term power purchase agreement for the project with Gujarat Urja Vikas Nigam for a period of 25 years. Torrent Power currently has an aggregate installed generation capacity of 3.9 GW (gigawatt), which consists of 2.7 GW of gas-based power generation and 0.8 GW of renewables.
Gujarat: Torrent Power acquires 25 MW solar plant for Rs 163cr
