Corporate News 10-Feb-22
Torrent Power to acquire 25 MW solar plant in Gujarat
Torrent Power has entered into a Share Put chase Agreement (SPA) with Blue Daimond Properties and Balrampur Chini Mills (the Sellers) for the acquisition of 100% Equity Share Capital of Visual Percept Solar Projects (the SPV). The SPV operates 25 MW Solar power in the state of Gujarat. Long-term Power Purchase Agreement (PPA) for the Project is with Gujarat Urja Vikas Nigam (GUVNL) for a period of 25 years. Enterprise Value estimated for this acquisition Rs 163 crore, subject to Closing Price Adjustments, if any.
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