Torrent acquires 50 Mw solar power plant from Lightsource for Rs 300 cr

Torrent Power Limited on Friday announced completion of a Rs 300 crore acquisition of a 50 Mw solar power plant run by the special purpose vehicle held jointly by Lightsource Renewable Energy, British Petroleum and UK Climate Investments LLP (UKCI).

Pursuant to a securities purchase agreement with Lightsource India Limited and Lightsource Renewable Energy (India) Limited, Torrent Power completed a transaction of acquisition of 100 per cent of the share capital and all securities of LREHL Renewables India SPV 1 Private Limited (SPV).

Lightsource Renewable Energy (India) Limited is a 100 per cent subsidiary of LSBP, a Lightsource Renewable Energy and British Petroleum partnership which holds 51 per cent stake in Lightsource India Limited with the remaining 49 per cent held by UK Climate Investments LLP (UKCI).