Torrent to buy wind power plants from CESC for Rs 790 crore

MUMBAI: Torrent Power has agreed to acquire certain wind power plants from RP-Sanjiv Goenka Group for Rs 790 crore as it looks to expand its renewable energy portfolio in the country.
It will buy 156 megawatt wind power plants spread across Gujarat, Rajasthan and Madhya Pradesh from CESC, an arm of RP-Sanjiv Goenka Group. The wind power capacities are housed under Surya Vidyut.
The deal advances Torrent’s strategy to scale up its renewable business even as it pledges to climate change initiatives. Surya Vidyut has long term power purchase agreements with the three state discoms for 25 years, with weighted average tariff of Rs 4.68 per kWh, Torrent said.
With this deal, Torrent’s total generation capacity including the under development project will reach 4.9 GW, with a renewable portfolio of over 1.8 GW. The energy company is a part of the diversified $3-billion Torrent Group.