Torrent acquires 50MW solar plant from SkyPower Grp by admin- Tuesday, June 14th, 2022 04:53:39 PM
Torrent Power has, pursuant to Securities Purchase Agreement (SPA) with SkyPower Southeast Asia Ill Investments Limited and SkyPower Southeast Asia Holdings 2 Ltd (the Sellers) and Sunshakti Solar Power Projects Private Ltf (SPV), completed transaction of acquisition of one hundred% securities
of the SPV. The SPV operates 50 MW Solar Power Plant in the nation of Telangana. Long-time period Power Purchase Agreement (PPA) for the Project is with Northern Power Distribution Company of Telangana Limited (NPDCTL) for a length of 25 years at a set tariff of approx. Rs five.35 consistent with kWh, with ultimate beneficial lifestyles of approx. Two decades. Enterprise Value for this acquisition is approx. Rs. 416 Crore, consequent to Closing modifications.
Torrent Power, the included power utility of the various Torrent Group with group sales of approx. Rs. 22,500 Cr (approx. USD three.Zero billion) and Market Cap of Rs 70,000 Crore (approx. USD nine billion), is certainly one of the most important corporations in the Country’s strength zone with presence throughout the complete power value chain of technology, transmission and distribution.