M&A

M&A

Torrent Power buys renewable energy player Wind Two for Rs.33-cr

Business Line  

Torrent Power has acquired 100% stake in Wind Two Renergy Pvt Ltd (WTRPL) for INR 32.51 crore from Inox Green Energy Services. The company has acquired 3,25,10,000 equity shares of WTRPL at a face value of INR 10 each. WTRPL was founded in 2017 to produce renewable energy. It has implemented a 50MW wind power project in Kutch district of Gujarat. The electricity generated from the project is supplied under a 25-year Power Purchase Agreement (PPA) with PTC India Ltd.