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Torrent power news

ByTheCurrentScenario

Aug 3, 2023

Power Major Torrent Power To supply Green
Power for Shapoorji Pallonji’s Desalination Plants

 

torrent%20power Torrent power news

Torrent
Power Ltd. has, through its subsidiary Torrent Urja 8 Private Limited, entered
into Power Transfer Agreement with subsidiaries of Shapoorji Pallonji & Company
Private Limited (SPCPL) for supply of 132 MW Solar Power for its Desalination
Plants in the state of Gujarat, the company announced through an exchange
filing.
The estimated project cost of the 132 MW project is Rs 700
Crores. Torrent Power’s installed Renewable capacity is approximately 1.18 GW,
and total power generation capacity of approximately 4.2 GW. With the signing
of this 132 MW contract, Torrent now has 0.73 GW of Renewable capacity under
different stages of development. Torrent has been strategically focusing
on the C&I segment for some time and has established itself as a credible
player in the C&I space. In line with its sustainability commitments and
the Government’s aim to achieve 500 GW of non-fossil fuel capacity by 2030,
Torrent’s growth focus in Power Generation remains on Renewables. With a
balanced Wind and Solar portfolio, it is also working on other Green Energy
pathways of Pumped Hydro and Green Hydrogen. Torrent Power, with a
turnover of Rs 25,694 Crores (approx. USD 3 billion) is the integrated power
utility of the diversified Torrent Group with group revenues of Rs 37,600 Cr
(approx. USD 4.5 billion) and a Market Cap of approximately Rs 1,00,000 Crore
(approx. USD 12 billion). It is one of the largest power companies in India
with presence across the entire power value chain of generation, transmission,
and distribution.

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