Shardul Amarchand Mangaldas advises Torrent Power Limited in its acquisition of Surya Vidyut Limited.

March 22, 2022

Shardul Amarchand Mangaldas & Co. advised Torrent Power Limited in relation to its acquisition of 100% equity interest in Surya Vidyut Limited (a project SPV operating 156 MW wind power project in Gujarat, Rajasthan, and Madhya Pradesh).

The acquisition marks Torrent’s renewable energy presence in Gujarat, Rajasthan and Madhya Pradesh and is in line with the Torrent Group’s strategy to grow and strengthen its position in the renewable energy sector.

The transaction advisory team was led by Jatin Aneja, Partner; Kushal Sinha, Partner; Dhrupad Pant, Principal Associate; Rishab Chaudhary, Associate; Ishita Sehgal, Associate and Aayush Agarwal Associate. The due diligence team was led by Kushal Sinha Partner; Dhrupad Pant, Principal Associate; Rishab Chaudhary, Associate; Simran Kaur, Associate; Pallavi Senapati, Associate and Tanusmita Ghosal Associate. The real estate advisory team was led by Mrinal Kumar, Partner; Shrutikirti Kumar, Partner, Indira Shanker Reddy, Senior Associate and Arnav Kumar Sahni, Associate.

Khaitan & Co advised Surya Vidyut Limited and CESC Limited (53.79%), Haldia Energy Limited (46.21%) along with other Nominal Shareholders (“Sellers”).