Torrent Power acquires Surya Vidyut to add 156MW wind farms

Torrent Power said that it has wrapped up the previously announced acquisition of Surya Vidyut Limited (SPV), which operates 156MW wind farms across Gujarat, Rajasthan, and Madhya Pradesh.

Surya Vidyut Limited was acquired from CESC Limited, a part of the RP-Sanjiv Goenka Group, Haldia Energy Limited, and other nominal shareholders. Its wind farms are underpinned by power purchase agreements (PPAs) with their respective state discoms for a period of 25 years at an average tariff of INR 4.68/KWh.

According to Torrent Power, the acquisition initiates its renewable energy footprint in Rajasthan and Madhya Pradesh and aligns with its strategy to expand and bolster its position in the renewable energy sector.

Last month, Torrent Power signed a deal to acquire Visual Percept Solar Projects, the owner of a 25MW solar power plant in Gujarat.