Torrent buys 25 Mw solar plants for Rs 163 cr from Balrampur Chini's SPV

Unit has long-term PPA in place with Gujarat Urja Vikas Nigam Limited for a period of 25 years

Torrent Power Ltd on Thursday announced a Rs 163 crore acquisition of 25 Mw solar power plants operated by a special purpose vehicle (SPV) of Blue Daimond Properties Private Limited and Balrampur Chini Mills Limited.

The Ahmedabad-based generation and distribution player has entered into a share purchase agreement (SPA) with the two companies for the acquisition of 100 per cent equity share capital of Visual Percept Solar Projects Private Limited, the said SPV.

The SPV operates the 25 Mw solar power unit in Gujarat with a long-term power purchase agreement (PPA) in place with Gujarat Urja Vikas Nigam Limited (GUVNL) for a