Live
- PM Modi takes stock of 8 big infra projects worth Rs 1 lakh crore
- 98.5 pc land records digitised in rural areas, modernisation drive extended to 2026: Centre
- AP Sankranti Holidays 2025: Government Confirms Dates and Duration Amid Rumors
- I Must Have Been an Actor in My Past Life: Muralidhar Goud on His Passion for Cinema
- India's banking sector in robust health as NPAs fall and profits shoot up: Finance Ministry
- TG Indiramma Housing Scheme Delays: 8 Key Reasons Behind the Slow Progress of Indiramma House Survey
- Mangaluru Gears Up for Kambala
- Centre keen to promote traditional crop varieties for climate-resilient agriculture
- Activist Harassed and Attacked While Documenting Elephant’s Ordeal at Tamil Nadu Temple
- BJP Accuses Congress of Incorrect India Map on Posters, Slams 'Mohabbat ki Dukaan' for Appeasing China
Torrent Power buys solar plant in TS for Rs 416 cr
Gujarat-based Torrent Power on Monday said it has acquired 50-megawatt solar assets from SkyPower Group at an enterprise value of Rs416 crore.
Hyderabad: Gujarat-based Torrent Power on Monday said it has acquired 50-megawatt solar assets from SkyPower Group at an enterprise value of Rs416 crore.
The solar power plant, which is a special purpose vehicle (SPV) located in Telangana, has a 25-year power purchase agreement (PPA) with Northern Power Distribution Company of Telangana Limited (NPDCTL). The PPA is at a fixed tariff of Rs5.35 per kWh (kilowatt-hour), the company said in a statement. The company in the statement said: "Torrent Power completes acquisition of 50 MW Solar Power Plant from SkyPower Group pursuant to Securities Purchase Agreement with SkyPower Southeast Asia III Investments Ltd and SkyPower Southeast Asia Holdings 2 Ltd and Sunshakti Solar Power Projects Private Limited (SPV)."
The enterprise value for this acquisition is about Rs416 crore, consequent to closing adjustments, it added. According to the statement, Torrent Power currently has an aggregate installed generation capacity of 4.1 GW, which consists largely of clean generation sources, such as gas 2.7 GW and renewables 1 GW. It also has a capacity of 0.5 GW of renewable energy plants under development. With the acquisition of a 50 MW Solar Power Plant, Torrent Power's total generation capacity, including under development portfolio, will reach 4.7 GW with a renewable portfolio of more than 1.6 GW.
