Torrent Power gets letter of award to supply 150 MW renewable energy -EQ
In Short : Torrent Power receives a letter of award to provide 150 MW of renewable energy, marking a significant step towards bolstering sustainable energy infrastructure and expanding its contribution to the renewable energy sector.
In Detail : New Delhi : Torrent Power on Thursday said it has received a letter of award from its ‘Distribution Unit’ for setting up a 150MW wind solar hybrid project with an investment of Rs 1,825 crore.
The renewable energy project will supply power at a tariff of Rs 3.65 per kWh, a BSE filing stated.
“…the company has received Letter of Award from Torrent Power Limited-Distribution Unit for setting up of 150 MW (RE Power) Grid-Connected Wind Solar Hybrid Projects under Greenshoe option,” it stated.
The project will be commissioned within 24 months from the signing of Power Purchase Agreement (PPA).
The contract for supply of power will be 25 years from the commissioning of the project.
The annual CUF (capacity utilisation factor) will not be less than 50 per cent for any year during the term of the PPA and rated power capacity of wind and solar will be in the ratio of 2:1.
To meet the 50 percent CUF requirement, the company plans to install 245 MW of wind and solar capacity projects against a contracted capacity of 150 MW, it stated.
