A 50-megawatt solar power plant has been purchased by Torrent Power:
A 50-megawatt solar power plant has been purchased by Torrent Power .Torrent Power, based in Gujarat, announced on Monday that it had purchased 50 megawatts of solar assets from SkyPower Group for Rs 416 crore. The solar power plant, which is a special purpose vehicle (SPV) in Telangana, has a 25-year Power Purchase Agreement with Northern Power Distribution Firm of Telangana Limited (NPDCTL) at a set tariff of around Rs 5.35 per kWh (kilowatt-hour), according to a statement from the company.
Torrent Power has completed the purchase of a 50 MW solar power plant from SkyPower Group under a Securities Purchase Agreement with SkyPower Southeast Asia III Investments Ltd and SkyPower Southeast Asia Holdings 2 Ltd, as well as Sunshakti Solar Power Projects Private Limited (SPV), according to a statement. It stated that after closing adjustments, the acquisition’s enterprise value is around Rs 416 crore.Communities Designed to Move Students representing Otis India are recognised by Global Challenge for their unique mobility solution.
Torrent Power Limited has completed the acquisition of 100 percent of the securities of Sunshakti Solar Power Projects Private Limited (SPV) under the Securities Purchase Agreement (SPA) with SkyPower Southeast Asia III Investments Limited and SPA Holdings 2 Limited. In the state of Telangana, the SPV operates a 50 MW solar power plant.
According to the statement, Torrent Power has a total installed generation capacity of 4.1 GW, with the majority of that capacity coming from clean sources such as gas (2.7 GW) and renewables (1 GW).
Torrent Power’s overall generation capacity, including its under development portfolio, will exceed 4.7 GW, with a renewable portfolio of more than 1.6 GW, following the acquisition of a 50 MW solar power plant.
