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This is an archive article published on February 11, 2022
Gujarat: Torrent Power acquires 25 MW solar plant for Rs 163cr
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.
Contract workers hired by Torrent Power remove kite strings and kites entangled in High Tension (HT) cables in and around Ahmedabad. (Express photo by Javed Raja)
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.
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