Torrent Power Limited has entered into a share purchase agreement with CESC Limited, Haldia Energy Limited, and other nominal shareholders to obtain 100% of the share capital of Surya Vidyut Limited, a wholly-owned subsidiary of CESC Limited. Surya Vidyut controls and operates 156 MW of wind power projects in Gujarat, Rajasthan, and Madhya Pradesh. The firm has had long-term Power Purchase Agreements (PPAs) with the state distribution companies (discom) for 25 years, with a weighted average PPA tariff of Rs 4.68 per kWh. The projected enterprise cost for this purchase is about Rs 7.9 billion, subject to closing rate adjustments. Torrent Power, the integrated power utility of the diversified Torrent Group, has group revenues of Rs 205 billion and a market capitalisation of Rs 750 billion, with a presence across the complete power value chain of production, transmission, and distribution. The firm has 3,879 MW of established production capacity, with 2,730 MW of gas-fired, 787 MW of renewable, and 362 MW of coal-fired projects. Approximately 815 MW of renewable energy projects are in the pipeline, with letters of award and PPAs in place for 515 MW. Torrent Power’s overall production capacity will rise to 4.9 GW, with a renewable portfolio of over 1.8 GW, following the purchase of the wind power plants. CESC Limited is a vertically integrated power firm that produces, transmits, and distributes electricity and is part of the RP-Sanjiv Goenka Group. Surya Vidyut Limited’s equity share capital is owned by CESC Limited (53.79%), Haldia Energy Limited (46.21%), and other nominal shareholders. This purchase installs Torrent’s renewable energy presence in Rajasthan and Madhya Pradesh. Earlier, torrent power had purchased 100% of the share capital and all securities of Lightsource Renewable Energy Holdings’ special purpose vehicle, which runs a 50 MW solar project. Torrent has also auctioned a 300 MW solar plant discovering a tariff of Rs 2.22 per kWh. Additionally, the auction had a greenshoe option. Image SourceAlso read: Tata Power subsidiary gets LoI for 250 MW solar plant in Maharashtra