Gujarat-based Torrent Power on Monday said it has acquired 50-megawatt solar assets from SkyPower Group at an enterprise value of Rs 416 crore. The solar power plant — a special purpose vehicle (SPV) located in Telangana — has a long-term Power Purchase Agreement with Northern Power Distribution Company of Telangana Limited (NPDCTL) for 25 years at a fixed tariff of approximately Rs 5.35 per kWh (kilowatt-hour), the company said in a statement.<\/p>\n
“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 statement said.<\/p>\n
The enterprise value for this acquisition is about Rs 416 crore, consequent to closing adjustments, it added.<\/p>\n
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.<\/p>\n
It also has a capacity of 0.5 GW of renewable energy plants under development.<\/p>\n
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.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gujarat-based Torrent Power on Monday said it has acquired 50-megawatt solar assets from SkyPower Group at an enterprise value of Rs 416 crore. The solar power plant — a special purpose vehicle (SPV) located in Telangana — has a long-term Power Purchase Agreement with Northern Power Distribution Company of Telangana Limited (NPDCTL) for 25 years at a fixed tariff of approximately Rs 5.35 per kWh (kilowatt-hour), the company said in a statement. “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 […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-498255","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/498255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=498255"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/498255\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=498255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=498255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=498255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}