Torrent Power enters deal to acquire 50 MW solar farm in Maharashtra

Torrent Power Ltd has signed a deal to acquire a 50 MW solar photovoltaic project in Maharashtra in India for a total consideration of INR3.17 billion (US$42.65 million). 

The deal is signed with a special purpose vehicle (SPV) setup of Lightsource India Ltd and Lightsource Renewable Energy (India) Ltd that develops the solar farm. Lightsource India is a joint venture between Lightsource BP and UK Climate Investments LLP (UKCI).

The project has secured a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India Ltd.