The acquisition of 100 percent share capital of Surya Vidyut Limited announces by Torrent Power Limited. The estimated value of a wholly-owned subsidiary of RP-Sanjiv Goenka Group’s Kolkata-based CESC is Rs 790 crore.
The company in an official release here said it has entered into a Share Purchase Agreement with CESC Limited, Haldia Energy Limited and other Nominal Shareholders for this acquisition.
Surya Vidyut operates 156 MW wind power plants (the Projects), spread across Gujarat, Rajasthan and Madhya Pradesh.
Long-term Power Purchase Agreements (PPAs) for the Projects are with respective State Discoms for a period of 25 years, with weighted average PPA tariff of Rs. 4.68/ kWh. The acquisition is further subject to customary conditions for transaction closure, the release added.
