Torrent Power bags 156 MW wind projects worth Rs 7.9 bn from CESC
POWER & RENEWABLE ENERGY

Torrent Power bags 156 MW wind projects worth Rs 7.9 bn from CESC

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 Source


Also read: Tata Power subsidiary gets LoI for 250 MW solar plant in Maharashtra

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

Next Story
Building Material

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Next Story
Technology

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

Next Story
Infrastructure Urban

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?