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Torrent Power Acquires 25 MW Solar Power Plant in Gujarat

Torrent Power has acquired 25 MW of solar power plant at a cost of Rs 163 crore operated by a special purpose vehicle (SPV) of Blue Daimond Properties and Balrampur Chini Mills.

 

Torrent Power, a company majorly into generation and distribution has entered into a share purchase agreement (SPA) with the two companies for the acquisition of 100 percent equity share capital of Visual Percept Solar Projects.

 

The SPV operates the 25 MW solar power unit in Gujarat with a long-term power purchase agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL) for a period of 25 years.

 

Currently, the entire equity shares in Visual Percept Solar Projects is held by Blue Daimond Properties and Balrampur Chini Mills.

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