Torrent Power acquires 50 MW solar power SPV from SkyPower Group

28 Apr 2022 , 01:33 AM

Torrent Power has entered into a Share Purchase Agreement SPA with SkyPower Southeast Asia III Investments and SkyPower Southeast Asia Holdings 2 the Sellers for the acquisition of 100Percentage securities of Sunshakti Solar Power Projects SPV The SPV operates 50 MW Solar Power Project in the state of Telangana Long-term Power Purchase Agreement PPA for the Project is with Northern Power Distribution Company of Telangana NPDCTL for a period of 25 years at a fixed tariff of approx = 535 per kWh with remaining useful life of approx 20 years Enterprise Value for this acquisition is approx Rs 417 crore subject to Closing Price Adjustments if any The acquisition is further subject to customary conditions for transaction closure