Torrent Power Limited has acquired 100 per cent equity share capital in Wind Two Renergy Private Limited (WTRPL) for Rs 325.1 million from Inox Green Energy Services Limited.
The company has acquired 32.51 million equity shares of WTRPL at a face value of Rs 10 each. WTRPL was incorporated on April 20, 2017, with the objective of electricity generation from renewable energy. It has implemented a 50 MW wind power project in the Kutch district of Gujarat. The electricity generated from the project is supplied under a 25-year power purchase agreement with PTC India Limited. WTRPL had a turnover of Rs 350.1 million in 2021-22. The acquisition supports Torrent’s focus area of sustainable growth through renewable energy.