Torrent Power Concludes Acquisition of Surya Vidyut from CESC

Torrent Power has completed the acquisition of 100% equity share capital of Surya Vidyut, an owned subsidiary of CESC. Surya Vidyut operates 156 MW wind power plants, spread across the states of Gujarat, Rajasthan and Madhya Pradesh. 

The project's long-term power purchase agreement (PPA) has been signed with discoms in each state for  25 years, with a weighted average PPA charge of Rs 4.68/kWh.

Torrent Power is among the largest companies in India’s power sector with its presence across the entire power value chain of generation, transmission and distribution. It currently has an aggregate installation generation capacity of 3.9 GW, which largely includes clean generation sources such as gas and renewables.

With the acquisition of the 156 MW wind turbine, Torrent Power's total power generation capacity, including the portfolio under development, will reach approximately 4.6 GW and the renewable portfolio will exceed approximately 1.5 GW.

The consolidated net profit of Torrent Power jumped 14.8% to Rs 369.45 crore with a 27.6% surge in net sales to Rs 3,767.43 crore in the third quarter of the financial year.