Torrent Power Limited has entered into a Power Transfer Agreement with subsidiaries of Shapoorji Pallonji & Company Private Limited (SPCPL). After this agreement, Torrent, through its subsidiary Torrent Urja 8 Private Limited, will supply 132 MW of solar power for SPCL’s desalination plants in Gujarat.
The estimated project cost of the 132 MW project is Rs 700 Crores. Torrent Power’s installed renewable capacity is ~1.18 GW, and total power generation capacity is around 4.2 GW. With the signing of this 132 MW contract, Torrent now has 0.73 GW of renewable capacity under different stages of development.
Torrent Power is one of the largest power companies in India with presence across the entire power value chain of generation, transmission, and distribution. The diversified Torrent group has a turnover of Rs 25,694 Crores (approx $ 3 billion), revenues of Rs 37,600 Cr (approx $ 4.5 billion) and a Market Cap of ~ Rs 1,00,000 Crore (approx $ 12 billion).
