Torrent Power Limited (the “Company”) has been awarded a long-term Power Purchase Arrangement (“PPA”) for 300 MW capacity of Solar Power Generation to be set up in Gujarat, from Licensed Distribution Business Unit of the Company towards fulfilment of its RPO.
The Project shall be commissioned within 18 months from the date of execution of the PPA. The tariff for this Project is ₹ 2.22/ kWh for a period of 25 years. The cost involved in the Project is about Rs. 1,250 crore.
Torrent forayed into the renewable energy space with a ~50 MW wind power plant in the year 2012. As a part of its journey into this environmentally benign and sustainable energy space, Torrent has till date implemented various renewable projects aggregating to around 786.5 MW (648.5 MW wind project and 138 MW solar projects). Besides these operational projects, around 515 MW renewable power projects (115 MW wind projects and 400 MW solar projects) are under implementation (including aforesaid project).
About Torrent Power:
Torrent Power, the ₹ 13,641 Crs integrated power utility of the ₹ 21,500 Crs Torrent Group, is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution.
The Company has an aggregate installed generation capacity of 3,879 MW comprising of 2,730 MW of gas-based capacity, 787 MW of renewable capacity and 362 MW of coal-based capacity.
The Company distributes nearly 16.66 billion units to over 3.65 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat; Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
Torrent Power is widely considered to be the leading power distributor in India and in its licensed areas in Gujarat has the distinction of having the lowest AT&C losses and best reliability indices.