Sunday, August 7, 2022

Torrent Power buys Wind Two Renergy for Rs 33 crore

Torrent Power has acquired 100 percent stake in Wind Two Renergy Private Ltd (WTRPL) for Rs 32.51 crore from Inox Green Energy Services

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New Delhi: Torrent Power on Saturday said it has acquired 100 per cent stake in Wind Two Renergy Private Ltd (WTRPL) for Rs 32.51 crore from Inox Green Energy Services.

The company has acquired 3,25,10,000 equity shares of WTRPL at a face value of Rs 10 each, a BSE filing said.

WTRPL has 50MW power generation capacity and had a turnover of Rs 35.01 crore in 2021-22. This acquisition supports Torrent’s focus area of sustainable growth through renewable energy.

WTRPL was incorporated on April 20, 2017, with the objective of electricity generation from renewable energy. It has implemented a 50MW wind power project in the Kutch district of Gujarat.

The electricity generated from the project is supplied under a 25-year Power Purchase Agreement (PPA) with PTC India Limited.

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