Power giant Torrent Power will acquire 100 per cent stake in a 50 MW solar power plant from SkyPower Group for Rs 417 crore. Share purchase agreements have been entered into with Southeast Asia Holdings-2 Limited and Skypower Southeast Asia-3 Investments Limited.
Rs 417 crore deal
The project has a contract of 25 years with Telangana based company NPDCTL, out of which 20 years are yet to come. The company said in a statement that this acquisition will be done for about Rs 417 crore. The deal will still have to get the necessary approvals.
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Torrent Power’s total power generation capacity after this acquisition will increase to 4.6 GW, with renewables accounting for 1.5 GW.