Torrent Power acquires Wind Two Renergy; Stock trades lower

1 Aug 2022 , 11:09 AM

Torrent Power Ltd has acquired 3,25,10,000 equity shares of Wind Two Renergy Private Limited (“WTRPL”) at a face value of Rs10 each aggregating to Rs32.51 crore representing 100% of paid-up capital of WTRPL from Inox Green Energy Services.

As per the regulatory filing, WTRPL has implemented 50MW Wind Power Project at Dayapar Village, Lakhpat Taluka, Kutch District of Gujarat.

Further, the Project comprises of 25 Wind Turbine Generators of Inox DF/2000/113 with an individual capacity of 2MW each. The electricity generated from the Project is supplied under a 25 years Power Purchase Agreement (PPA) with PTC India Limited, the company said.

“This acquisition helps company’s focus area of sustainable growth through renewable energy”, it further added.

At around 11:39 AM, Torrent Power was trading at Rs523.80 per share down by Rs0.75 or 0.14% from its previous closing of Rs524.55 per share on the BSE.