Torrent Power completes acquisition of wind SPV from CESC and Haldia Energy

Torrent Power Limited has completed the acquisition of a special purpose vehicle (SPV) Surya Vidyut Limited that operates 156 MW onshore wind projects in Gujarat, Rajasthan, and Madhya Pradesh in India. 

Surya Vidyut Limited is a wholly-owned subsidiary of CESC Limited. A share purchase agreement was completed by Torrent Power with CESC Ltd which owns a 53.79% stake and Haldia Energy Limited which owns 46.21% interest in the SPV. 

The projects operated by the SPV have secured long-term power purchase agreements (PPAs) for a period of 25 years with a weighted average tariff of INR4.68 (US$0.06165) per kWh.