Torrent Power Ltd., via its subsidiary Torrent Urja 8 Private Limited, has engaged in a Power Transfer Agreement with Shapoorji Pallonji & Company Private Limited (SPCPL) subsidiaries. This agreement entails the provision of 132 MW Solar Power to fuel SPCPLโs Desalination Plants situated in Gujarat state.
The anticipated expenditure for the 132 MW project amounts to โน700 Crores. Torrent Power currently possesses an operational Renewable capacity of approximately 1.18 GW, coupled with an overall power generation capacity of around 4.2 GW. By formalizing this agreement for the 132 MW venture, Torrent Power has augmented its Renewable capacity by 0.73 GW, encompassing various stages of progress.
Torrent has been methodically directing its attention toward the C&I (Commercial and Industrial) sector, solidifying its reputation as a reputable participant within this domain. Aligned with its steadfast dedication to sustainability and in harmony with the Governmentโs target of attaining 500 GW of non-fossil fuel capacity by 2030, Torrentโs trajectory of growth within Power Generation is firmly centered on Renewable sources. This strategy involves a harmonious blend of Wind and Solar ventures, complemented by ongoing efforts in the realms of Pumped Hydro and Green Hydrogen, as part of its pursuit of diverse Green Energy pathways.
Torrent Power, boasting a turnover of around โน25,694 Crores (equivalent to approximately USD 3 billion), stands as the comprehensive power utility within the diversified Torrent Group. The overarching Torrent Group commands group revenues totaling about โน37,600 Crores (approx. USD 4.5 billion) and holds a Market Cap of roughly โน1,00,000 Crore (approx. USD 12 billion). Positioned as a major player in the Indian power sector, Torrent Power encompasses the complete power value chain, encompassing generation, transmission, and distribution.
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