Torrent Power wholly acquires 50 MW solar project in Maharashtra
POWER & RENEWABLE ENERGY

Torrent Power wholly acquires 50 MW solar project in Maharashtra

Torrent Power has signed an agreement with Lightsource India and Lightsource Renewable Energy Holdings Ltd (LREHL) to acquire 100% of its stake and the total securities of Special Purpose Vehicle (SPV) of the 50 MW solar project of LREHL Renewables India.

The 50 MW project was commissioned back in April 2018 in Maharashtra. Lightsource British Petroleum (BP) won the bid to develop this 50 MW project in a 450 MW bidding in 2016 by Solar Energy Corporation of India (SECI).

The SPV has a long-term power purchase agreement for 25 years with SECI. The SPV was incorporated in 2016 to generate electricity from renewable energy.

Lightsource BP is a strategic partnership between LREHL and BP. The company has an international holding, with Lightsource BP having 51% holding and UK Climate Investments with 49% holding. Lightsource Renewable Energy India is a subsidiary of Lightsource BP.

Lightsource Renewable Energy and UK Climate Investment, part of the Green Investment Group in Macquarie Infrastructure and Real Assets, signed an agreement in 2017 to form a partnership to fund development, acquisition and ownership of the large-scale solar projects in India.

The estimated transaction value is Rs 3.17 billion, with viable gap funding of Rs 98 million to be received by SECI to the company. The acquisition will be completed in two months after signing the power purchase agreement.

Sources informed the media that Torrent has an average installed power generating capacity of 3,879 MW, having 2,730 MW of gas-based capacity, 787 MW of renewable capacity, and 362 MW of coal-based capacity.

The solar project acquisition was at its peak in the second quarter (Q2) of 2021, with the highest capacity of 25 GW. 135 solar projects of 39.3 GW capacity were acquired in 1H 2021, as compared to 91 projects of 14.7 GW in 1H 2020. The project developers and power producers were most active in Q2 2021, increasing the power capacity up to 13.3 GW.

Image Source


Also read: SECI’s 1785 MW solar bid gets a good response

Also read: NTPC plans to install 60 GW RE capacity by 2032

Torrent Power has signed an agreement with Lightsource India and Lightsource Renewable Energy Holdings Ltd (LREHL) to acquire 100% of its stake and the total securities of Special Purpose Vehicle (SPV) of the 50 MW solar project of LREHL Renewables India. The 50 MW project was commissioned back in April 2018 in Maharashtra. Lightsource British Petroleum (BP) won the bid to develop this 50 MW project in a 450 MW bidding in 2016 by Solar Energy Corporation of India (SECI). The SPV has a long-term power purchase agreement for 25 years with SECI. The SPV was incorporated in 2016 to generate electricity from renewable energy. Lightsource BP is a strategic partnership between LREHL and BP. The company has an international holding, with Lightsource BP having 51% holding and UK Climate Investments with 49% holding. Lightsource Renewable Energy India is a subsidiary of Lightsource BP. Lightsource Renewable Energy and UK Climate Investment, part of the Green Investment Group in Macquarie Infrastructure and Real Assets, signed an agreement in 2017 to form a partnership to fund development, acquisition and ownership of the large-scale solar projects in India. The estimated transaction value is Rs 3.17 billion, with viable gap funding of Rs 98 million to be received by SECI to the company. The acquisition will be completed in two months after signing the power purchase agreement. Sources informed the media that Torrent has an average installed power generating capacity of 3,879 MW, having 2,730 MW of gas-based capacity, 787 MW of renewable capacity, and 362 MW of coal-based capacity. The solar project acquisition was at its peak in the second quarter (Q2) of 2021, with the highest capacity of 25 GW. 135 solar projects of 39.3 GW capacity were acquired in 1H 2021, as compared to 91 projects of 14.7 GW in 1H 2020. The project developers and power producers were most active in Q2 2021, increasing the power capacity up to 13.3 GW. Image Source Also read: SECI’s 1785 MW solar bid gets a good response Also read: NTPC plans to install 60 GW RE capacity by 2032

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?