Torrent Power acquires 50 MW solar power plant from Lightsource bp and UKCI

New Delhi, Jul 31 (IANS): Torrent Power Limited has entered into a securities purchase agreement with Lightsource India Limited and Lightsource Renewable Energy (India) Limited for the acquisition of 100% of the share capital and all securities of LREHL Renewables India SPV 1 Private Limited (SPV).

The SPV operates a 50 MW solar power plant, commissioned in April 2018, situated in the state of Maharashtra. It has a long-term Power Purchase Agreement with Solar Energy Corporation of India Limited for full capacity for a period of 25 years. Enterprise value estimated for this acquisition is around Rs 317 Cr including the VGF receivable. The acquisition is subject to customary conditions for transaction closure.

Torrent Power, the Rs 12,173 Cr integrated power utility of the Rs 20,000 crore Torrent Group, is one of the largest companies in the Country's power sector with presence across the entire power value chain of generation, transmission and distribution.

Torrent Power currently has an aggregate installed generation capacity of 3879 MW comprising of 2730 MW gas-based capacity, 787 MW renewable capacity and 362 MW coal-based capacity.

Further, renewable power projects of 815 MW are under development. With the acquisition of 50 MW Solar Power Plant, Torrent's total generation capacity, including under construction portfolio, will exceed 4.7 GW with renewable portfolio of more than 1.6 GW.

Lightsourcebp is a strategic global partnership between Lightsource Renewable Energy and British Petroleum. UK Climate Investments LLP (UKCI) is a joint venture between the Green Investment Group and the UK Government's Department for Business, Energy and Industrial Strategy. Lightsource India Limited is the overseas holding company, held jointly by LSbp (51%) and UKCI (49%). Lightsource Renewable Energy (India) Limited is a 100% subsidiary of LsBP. Greenstone Advisors LLP acted as exclusive Financial Advisors to Lightsource India Limited for this transaction.



Top Stories

Leave a Comment

Title: Torrent Power acquires 50 MW solar power plant from Lightsource bp and UKCI

You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.

Security Validation

Enter the characters in the image