NEW DELHI: Torrent Power is to acquire a 25 MW solar power project in Gujarat from Blue Daimond Properties and Balrampur Chini Mills for Rs 163 crore, the company said in a statement.
The power major signed a share purchase agreement for acquiring 100% equity share capital of Visual Percept Solar Projects Private Limited, the special purpose vehicle of Blue Daimond and Blarampur Chini, which operates the plant.
Torrent said the solar project has a 25-year power purchase agreement with Gujarat Urja Vikas Nigam Ltd. Blue Daimond owns 55% and Balrampur Chini 45% in Visual Percept.
Torrent Power currently has an aggregate installed generation capacity of about 3.9 GigaWatts, which consists largely of clean generation sources such as gas (2.7 GW) and renewables (0.8 GW).
