Torrent Power to acquire 25MW solar power plant in Gujarat for Rs 163cr

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has agreed to acquire Visual Percept Solar Projects, the holding company for a 25MW solar power plant in Gujarat, from Blue Daimond Properties and for a sum of around INR 163 crores.

Blue Daimond Properties has a 55% stake, while has the remaining 45% stake in Visual Percept Solar Projects. Balrampur Chini Mills said that it will be paid INR 73.18 crores for the sale of its stake.

The solar power plant of is underpinned by a 25-year power purchase agreement (PPA) with Urja Vikas Nigam Limited (GUVNL).

Torrent Power to acquire 25MW solar power plant in Gujarat for Rs 163cr

to acquire 25MW solar power plant in for Rs 163cr. Photo courtesy of atimedia from Pixabay .

The closing of the acquisition is subject to satisfying customary conditions.

Torrent Power, which is the power utility business of Torrent Group, has an installed generation capacity of around 3.9GW so far.

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