Torrent Power acquires 100 per cent stake in Wind Two Renergy

Torrent Power announced the acquisition of a 100 per cent stake in Wind Two Renergy Private Limited (WTRPL) from Inox Green Energy Services for Rs 325.1 million. The company purchased 32,510,000 equity shares of WTRPL at a face value of Rs 10 each. This acquisition contributes to Torrent’s focus on sustainable growth through renewable energy.

WTRPL was incorporated on April 20, 2017 with an objective of electricity generation from renewable energy. The company has 50 MW power generation capacity and had a turnover of Rs 350.1 million during 2021-22.

In July 2022, Solar Energy Corporation of India issued a letter of award to Torrent Power for the development of a 300 MW wind energy project in Karnataka at a tariff of Rs 2.94 per kWh. The project is expected to cost Rs 26 billion.

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