Torrent Power acquires 156 MW wind power plants from CESC Limited

Torrent Power Limited has entered into a share purchase agreement with CESC Limited and others for 100 per cent acquisition of CESC’s wholly-owned subsidiary Surya Vidyut Limited and its 156 MW wind power plants at an estimated enterprise value of about Rs 7.9 billion.

The projects have long-term power purchase agreements (PPAs) with respective state discoms of Gujarat, Rajasthan and Madhya Pradesh for a period of 25 years, with a weighted average PPA tariff of Rs 4.68 per kWh. Torrent Power has entered into an agreement with CESC Limited, Haldia Energy Limited and other nominal shareholders for the acquisition of 100 per cent of the share capital of Surya Vidyut Limited.