M&A

M&A

Torrent Power acquires 50 MW solar power plant from SkyPower Group

BSE Disclosure  

Publicly listed, Ahmedabad-based Torrent Power Ltd is to acquire 100% stake in Sunshakti Solar Power Projects Pvt Ltd, a Delhi-headquartered SPV promoted by SkyPower. The SPV operates a 50 MW solar power project in Telangana. Long-term Power Purchase Agreement (PPA) for the project is with Northern Power Distribution Company of Telangana Ltd (NPDCTL) for 25 years at a fixed tariff of approximately 5.35 per kWh, with remaining useful life of about 20 years. Enterprise Value for this acquisition is about INR 417 crore. With this acquisition, Torrent Power's total generation capacity, including the under development portfolio, will reach ~4.6 GW with a renewable portfolio of more than 1.5 GW.