Torrent Power secures Rs 1,825-cr renewable energy project – EQ
Torrent Power secures Rs 1,825-cr renewable energy project
In Short – Torrent Power has successfully secured a Rs 1,825 crore renewable energy project. This move underscores their commitment to sustainable energy initiatives. The project is expected to significantly contribute to the company’s renewable energy portfolio and further establish its position in the clean energy sector.
In Details – Torrent Power clinches a significant milestone with the receipt of a Letter of Award (LoA) for a Rs 1,825 crore investment in a 150 MW wind solar hybrid project. Endorsed by its distribution unit, this grid-connected initiative underscores the company’s commitment to sustainable energy solutions.
Operating under the greenshoe option, the project is set to supply power at a competitive tariff of Rs 3.65 per kWh. Scheduled for commissioning within 24 months from the signing of the power purchase agreement (PPA), the contract spans 25 years. Ensuring robust performance, the project targets a minimum capacity utilization factor (CUF) of 50% annually.
Torrent Power plans to deploy 245 MW of wind and solar capacity to meet the contractual obligation, reflecting its dedication to renewable energy advancement.
