The stock rose 20 percent in 1 year, 95 percent in 3 years, and more than 500 percent in just 5 years.
torrent power has successfully commissioned a 115 MW wind power project through its wholly owned subsidiary Torrent Solargen Limited in the Devbhumi Dwarka district of Gujarat.
The Company was awarded the project through a bidding process under SECI Wind Tranche V. The Company signed a Power Purchase Agreement (PPA) for a period of 25 years with SECI which has a Power Sale Agreement (PSA) consecutive with the state of Haryana. The wind turbines for the project come from GE.
With the addition of 115 MW of wind power, Torrent Power's installed renewable capacity reaches 1.18 GW and total generation to 4.2 GW. In addition, a renewable capacity of 0.6 GW is in different stages of development. In line with its sustainability commitments and the Government's goal of reaching 500 GW of non-fossil fuel capacity by 2030, Torrent's growth focus in power generation continues to be on renewables. With a balanced portfolio of wind and solar, it is also working on other green energy avenues of pumped hydro and green hydrogen.
Previously, the company signed an MoU with the Government of Maharashtra and Torrent Power Ltd for the development of three 5,700 MW capacity pumped storage hydro projects in the state of Maharashtra. The projects would involve an investment of around Rs 27,000 crore and provide employment for approx. 13,500 people during the construction period. Torrent intends to execute these projects within 5 years.
DSIJ offers a service 'multipacker Pick" with recommendations for multibagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then download the service details pdf here
Torrent Power, with a turnover of Rs 25,694 crore (approximately USD 3 billion) is the integrated power company of the diversified Torrent Group with group revenue of Rs 37.6 billion (approximately USD 4.5 billion) and a market capitalization of Rs 95 billion (approximately USD 11.50 billion). It is one of the largest power companies in India with a presence across the entire power generation, transmission and distribution value chain.
On Thursday, Torrent Power shares fell 1.74 percent to Rs 614.65 per share with an intraday high of Rs 630 and an intraday low of Rs 611.
The stock rose 20 percent in 1 year, 95 percent in 3 years, and more than 500 percent in just 5 years. Investors should keep an eye on this multi-baler long cape stock.
Disclaimer: The article is for informational purposes only and not investment advice.
