The MoUs were signed today between Torrent Power and Gujarat Energy Development Agency (GEDA) in Gandhinagar.
Through the four MoUs, Torrent Power has proposed total investments of Rs 47,350 crore. The proposed investments are planned to be made in the areas of renewable energy, green hydrogen and power distribution and are expected to contribute significantly to the development of the State and the creation of large-scale employment opportunities, the company said.
Samir Mehta, Chairman of Torrent Group, said: "Torrent Power intends to make a significant portion of its future investments in key national priorities of renewable generation, pumped storage hydropower projects, green hydrogen/green ammonia production and distribution of energy".
The first MoUs comprise 3,450 MW of solar energy projects and 1,045 MW of Hybrid energy projects which will be established in Banaskantha, Jamnagar, Patan and Surendranagar districts and will involve a proposed investment of Rs 30,650 crore.
The second MoU involves an investment of Rs 4,500 crore in developing solar park infrastructure for a 7,000 MW solar power project to be set up in Banaskantha district. The third MoU is to establish a green hydrogen/green ammonia. production facility with a capacity of 100 KTPA to be established at Banaskantha/Dahej with a total proposed investment of Rs 7,200 crore. The fourth MoU relates to an investment of Rs 5,000 crore in Torrent Power's distribution business in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Mandal Becharaji SIR (MBSIR).
torrent power The Rs 25,694-crore integrated power company of the Rs 38,000-crore Torrent Group, is one of the largest power companies with presence across the entire power value chain - generation, transmission and distribution.
