Torrent Power has agreed to purchase from Solar Energy Corporation of India (SECI) a 300 MW wind energy project in Karnataka for Rs 2,600 crore.
“SECI has issued a Letter of Award to the business for 300 MW wind project and confirming long-term power purchase arrangement (PPA) for the power generated from the proposed project,” the company stated in a BSE filing.
The project is expected to cost Rs 2,600 crore, according to the business.
According to Torrent Power, the project should be put into service 24 months after the PPA was signed.
The PPA has a 25-year term with a 2.94/kWh rate starting on the anticipated commercial operation date (kilowatt hour).
