Torrent Power completes acquisition of 50 MW solar power plant from Lightsource bp and UKCI

Torrent Power Limited has completed the acquisition of 50 MW solar power plant from Lightsource bp and UKCI for an enterprise value of Rs 3 billion..

The company has completed transaction of acquisition of 100 per cent of the share capital and all securities of LREHL Renewables India SPV 1 Private Limited (SPV). The special purpose vehicle (SPV) operates a 50 MW solar power plant, commissioned in April 2018, located in Maharashtra. It has a long-term power purchase agreement with Solar Energy Corporation of India Limited for full capacity for a period of 25 years at a tariff of Rs 4.43 per kWh. With this acquisition, Torrent Power’s total generation capacity, including under development portfolio, will reach to ~4.6 GW with renewable portfolio of more than ~1.5 GW.

GET ACCESS TO OUR ARTICLES

Enter your email address

Share your work e-mail and access a free 3 month digital subscription to Power Line Magazine