Torrent Power has entered into a Share Purchase Agreement with CESC, Haldia Energy and other Nominal Shareholders (the Sellers) for the acquisition of 100% of the share capital of Surya Vidyut (the SPV), wholly owned subsidiary of CESC.
Surya Vidyut operates 156 MW Wind power plants (the Projects), spread across the states of Gujarat, Rajasthan and Madhya Pradesh. Long-term Power Purchase Agreements (PPAs) for the Projects are with respective State Discoms for a period of 25 years, with weighted average PPA tariff of Rs. 4.68/ kWh. Enterprise Value estimated for this acquisition is about Rs 790 crore, subject to Closing Price Adjustments.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
