Torrent Power Limited is the frontrunner to acquire Vector Green Energy – US-based Global Infrastructure Partners’ (GIP) 700 MW clean energy platform in India- in a deal worth about Rs 50 billion.
The company has trumped the other contenders in the fray including JSW Energy Limited, Apraava Energy Private Limited and Singapore’s Sembcorp Industries Limited. Vector Green portfolio includes 19 ground-mounted utility scale projects located across eight states, as well as 89 rooftop solar projects on 216 roofs across seven states. An additional 90 MW of solar projects are under implementation in Gujarat. Vector Green had expanded its portfolio in 2019 by acquiring about 225 MW of solar generation capacity from RattanIndia. The proposed buyout of Vector Green will give Torrent Power a strong presence in the clean energy space. It will increase the renewable energy capacity of Torrent to close to 2.5 GW.