Torrent Power has successfully commissioned 115 MW Wind Power Project through its wholly owned subsidiary Torrent Solargen Limited in Devbhumi Dwarka District of Gujarat.
The Company was awarded the project through a competitive bidding process under SECI Wind Tranche V. The Company signed a Power Purchase Agreement (PPA) for a period of 25 years with SECI which has a back-to-back Power Sale Agreement (PSA) with the state of Haryana.
The project was completed overcoming several challenges like Covid-19, changes in land allocation policy, RoW issues, extreme weather conditions etc. The successful commissioning of the project is another example of the company`s strong execution skills and capacity to deliver and operate utility scale projects. The Wind Turbines for the project have been sourced from GE.
With the addition of 115 MW Wind power, Torrent Power's installed Renewable capacity has reached ~1.18 GW, and total generation to ~4.2 GW. In addition, Renewable capacity of ~0.6 GW is under different stages of development. In line with its sustainability commitments and the Government's aim to achieve 500 GW of non-fossil fuel capacity by 2030, Torrent's growth focus in Power Generation remains on Renewables. With a balanced Wind and Solar portfolio, it is also working on other Green Energy pathways of Pumped Hydro and Green Hydrogen.
Torrent Power, with a turnover of ₹ 25694 Crores (approx. USD 3 billion) is the integrated power utility of the diversified Torrent Group with group revenues of ₹ 37,600 Cr (approx. USD 4.5 billion) and a Market Cap of ~ ₹ 95,000 Crore (approx. USD 11.50 billion). It is one of the largest power companies in India with presence across the entire power value chain of generation, transmission, and distribution.
Shares of Torrent Power Limited was last trading in BSE at Rs. 625.55 as compared to the previous close of Rs. 617.95. The total number of shares traded during the day was 47187 in over 2293 trades.
The stock hit an intraday high of Rs. 636.05 and intraday low of 617.35. The net turnover during the day was Rs. 29621031.00.