Torrent Power acquires 50 MW solar power plant in Telangana
Hyderabad: Integrated power utility Torrent Power has completed acquisition of 50 MW solar power plant in Telangana operated by SkyPower Group for Rs 416 crore. A release said, “Torrent Power has, pursuant to Securities Purchase Agreement (SPA) with SkyPower Southeast Asia III Investments Limited and SkyPower Southeast Asia Holdings 2 Limited (the Sellers) and Sunshakti […]
Hyderabad: Integrated power utility Torrent Power has completed acquisition of 50 MW solar power plant in Telangana operated by SkyPower Group for Rs 416 crore.
A release said, “Torrent Power has, pursuant to Securities Purchase Agreement (SPA) with SkyPower Southeast Asia III Investments Limited and SkyPower Southeast Asia Holdings 2 Limited (the Sellers) and Sunshakti Solar Power Projects Private Limited (SPV), completed transaction of acquisition of 100 per cent securities of the SPV. The SPV operates 50 MW Solar Power Plant in the state of Telangana.”
The release also mentioned that the long-term Power Purchase Agreement (PPA) for the project is with Northern Power Distribution Company of Telangana Limited (NPDCTL) for a period of 25 years at a fixed tariff of approx. Rs 5.35 per kWh, with remaining useful life of approx. 20 years.
