New Delhi: torrent power on Tuesday he said he had made his foray into power transmission segment by bagging a project for the evacuation of energy from renewable energy projects in Solapur, Maharastra. The annual transmission charges for the project are Rs 50 crore, according to a company statement.
Torrent Power will build this project on BOOT (build own operate transfer) basis and operate it for 35 years. The project will be operational in 24 months.
According to the statement, Torrent Power emerged as the successful bidder and received a letter of intent from PFC Consulting Ltd on February 27, 2024 for the establishment of an interstate transmission plan "Transmission System for Power Evacuation from Renewable Energy Projects at Solapur (1,500 MW) SEZ in Maharashtra" under tariff-based competitive bidding (TBCB) Process.
The project has been conceived to evacuate renewable energy with a capacity of 1,500 MW from Solapur and involves the installation of a transmission line of approx. 44 km from existing Solapur substation of PGCIL (Power Grid) to Solapur substation (to be established by Torrent Power).
In due course, PFC Consulting Ltd will hand over the project. SPV (special purpose vehicle) to Torrent Power.
While Torrent Power owns and operates Transmission projects; The award of this project represents Torrent Power's foray into the development of Transmission projects within the framework of TBCB.
