Torrent Power acquires 50-MW solar plant for Rs 4.16 billion in Telangana

Torrent Power Limited has completed acquisition of a 50 MW solar power plant in Telangana from SkyPower Group for Rs 4.16 billion.

The long-term power purchase agreement for the project is with Northern Power Distribution Company of Telangana Limited for a period of 25 years at a fixed tariff of Rs 5.35 per kWh, with remaining useful life of around 20 years. With this acquisition, Torrent Power’s total generation capacity, including under-development projects, will reach 4.7 GW with a renewable portfolio of more than 1.6 GW.