Torrent Power acquires 156 Mw wind power plants from CESC Ltd arm

Struck at an estimated enterprise value of Rs 790 cr, subject to closing price adjustments, the acquisition must now meet customary conditions for transaction closure

Torrent Power Limited has entered into a share purchase agreement with CESC Limited and others for 100 per cent acquisition of CESC's wholly-owned subsidiary Surya Vidyut Limited and its 156 Mw wind power plants, the company informed on Tuesday.

A special purpose vehicle (SPV) of CESC, Haldia Energy Limited and other nominal shareholders, Surya Vidyut operates 156 Mw wind power plants, spread across the states of Gujarat, Rajasthan and Madhya Pradesh (MP).

At an estimated enterprise value of about Rs 790 crore, subject to closing price adjustments, the acquisition is further subject to customary conditions for transaction closure. The projects have long