Latest News | Torrent Power Completes Acquisition of Surya Vidyut Ltd

New Delhi, Mar 11 (PTI) Torrent Power on Friday said it has completed the acquisition of wind energy firm Surya Vidyut Limited from CESC Limited.

Surya Vidyut was a wholly-owned subsidiary of CESC Limited with a total capacity of 156 megawatts (MW).

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"Pursuant to share purchase agreement between Torrent Power Limited and CESC Limited, Haldia Energy Limited along with nominal shareholders (the Sellers) and Surya Vidyut Limited (SPV), completed transaction of acquisition of 100 per cent equity share capital of Surya Vidyut Limited," it said.

Surya Vidyut operates 156 MW wind power plants, spread across Gujarat, Rajasthan and Madhya Pradesh, the company statement said.

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Sharing further information, it said there are long-term power purchase agreements (PPAs) for the projects with respective state discoms for 25 years, with a weighted average tariff of Rs 4.68/ kWh (kilowatt-hour).

The company did not disclose any further information concerning the acquisition of the wind assets.

Part of diversified Torrent Group, Torrent Power is one of the largest power companies with a presence across the entire power value chain of generation, transmission and distribution.

Torrent Power currently has an aggregate installed generation capacity of 3.9 GW, which consists largely of clean generation sources such as gas (2.7 GW) and renewables (0.8 GW).

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)