Torrent Power has been awarded a long-term power purchase agreement (PPA) for 300 MW capacity of solar power generation to be set up in Gujarat.
The PPA was awarded from its licensed distribution business unit towards fulfilment of its renewable purchase obligation (RPO).
To be commissioned within 18 months from the date of execution of the PPA, the project will have a tariff of Rs 2.22/kWh for a period of 25 years. The cost involved in the project is about Rs 1,250 crore.
Having entered the renewable energy space with a 50 MW wind power plant in 2012, Torrent Power has to 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 projects (115 MW wind and 400 MW solar) are under implementation (including the aforesaid project).
The Rs 13,641 crore integrated power utility of the Rs 21,500 crore Torrent Group, Torrent Power 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.
Besides, 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.