New Delhi, March 1 -- Private integrated public services company torrent power on Friday said it had emerged as the winning bidder to set up grid-connected renewable energy projects for supplying 100 MW of power around the clock.
Torrent Power Limited is 25,694 crore integrated energy company 37,600 crores Torrente Group and it is one of the largest companies in the country's electricity sector with a presence in the entire energy value chain: generation, transmission and distribution.
"Torrent Power Limited has been awarded and has received the Letter of Award of Railway Power Management Company Limited (REMCL) in February 29, 2024 for the establishment of grid-connected renewable energy projects, with or without storage, for the supply of 100 MW of energy around the clock," the company said in a statement.
The project will be launched within 24 months following the signing of the Power Purchase Agreement. The cost of the project is approx. 2,700 crores to install around 325 MW of renewable capacity to supply 100 MW of RE-RTC power. The tender requires maintaining a minimum annual capacity utilization factor of 75 percent in the first 3 years and 85 percent from the fourth year.
The project fee is 4.25 rupees per Kwh over a period of 25 years, the company stated that Torrent is strategically focusing on Renewables to increase its generation capacity in line with its sustainability commitments and the Government's objective of achieving 500 GW of non-fossil fuel capacity by 2030.
With a balanced portfolio of wind and solar energy, it is also working on other green energy avenues, such as pumped hydro and green hydrogen.
The Company has an aggregate installed generation capacity of 4,287 MW comprised of 2,730 MW of gas capacity, 1,195 MW of renewable capacity and 362 MW of coal capacity. In addition, 1,402 MW of renewable projects are under development. The total generation capacity, including projects in advanced stages of development, is 5,689 MW.
torrent power is one of the main energy distributors in India and in its authorized areas in gujarat has the distinction of having AT&C's lowest losses, the company said. UNI SKB CS1821 Published by HT Digital Content Services with permission United News of India. For any queries regarding this article or any other content requirements, please contact the Editor at contentservices@htlive.com
