Torrent Power, an Indian company involved in power generation, transmission and distribution, has been awarded 6,000 hectares of land in Gujarat for the development of green hydrogen and renewable energy projects.
The company plans to establish 3 gigawatts (GW) of renewable energy projects, encompassing solar and wind capacities. These projects will include major initiatives as well as projects that will receive state rebates. Torrent Power intends to begin development of these projects once power purchase agreements (PPAs) are finalized.
While Torrent Power currently operates coal and gas-fired and renewable power plants, it aims to increase its focus on the renewable energy sector alongside its core transmission and distribution business.
In addition to expanding its renewable energy portfolio, the company is actively exploring opportunities for inorganic acquisitions and greenfield projects. Torrent Power has set itself a goal of reaching around 5 GW of renewable energy capacity in the next three to five years.
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