Live
- GMC related services through call centre from today
- JPC on Waqf Bill seeks extension for comprehensive consultations
- PM to take part in a host of programmes in Vizag on Nov 29
- Bigg Boss Telugu 8 - 13th Week Nominations: Intense Fights and Key Contestants Nominated
- Maharashtra Congress chief Patole 'quits', party denies
- Lokesh lambasts Jagan for imposing a burden of Rs 6,500 cr on State govt
- Trans women in India face stigma, depression, anxiety, and suicidal thoughts: Study
- Mild quake hits Tripura, eighth tremor in NE in less than a month
- Traffic jam at ghat road as devotees throng Srisailam temple
- NDA govt neglecting edu sector, flays Jagan
Torrent Power picks 50-MW solar plant in Telangana for `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.
