Latest News | Torrent Power Bags Long-term PPA to Supply 300MW from Upcoming Solar Project

New Delhi, Apr 22 (PTI) Torrent Power on Thursday said it has been awarded a power purchase agreement for the supply of 300 MW solar energy from its project coming up in Gujarat.

"Torrent Power Ltd has been awarded a long-term Power Purchase Arrangement (PPA) for 300 MW capacity of Solar Power Generation to be set up in Gujarat, from Licensed Distribution Business Unit of the company towards fulfilment of its RPO (renewable purchase obligation)," a company statement said.

According to statement, the project shall be commissioned within 18 months from the date of execution of the PPA.

The tariff for this project is Rs 2.22/ kWh for a period of 25 years. The cost involved in the project is about Rs 1,250 crore.

Torrent forayed into the renewable energy space with a 50 MW wind power plant in 2012.

As part of its journey into this environmentally benign and sustainable energy space, Torrent has till date implemented various renewable projects aggregating to around 786.5 MW (648.5 MW wind project and 138 MW solar projects).

Besides these operational projects, around 515 MW renewable power projects (115 MW wind projects and 400 MW solar projects) are under implementation (including aforesaid project).

Torrent Power, the Rs 13,641 crore integrated power utility of the Rs 21,500 crore Torrent Group, is one of the largest companies in the country's power sector with presence across the entire power value chain – generation, transmission and distribution.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)