Torrent Power Limited, the integrated power utility of the diversified Torrent Group, has reaffirmed its commitment to a green and sustainable future by submitting two Shapath Patras to the Union Ministry of New and Renewable Energy, Government of India, at the 4th Edition of RE-Invest in Gandhinagar on Monday. The company has pledged to achieve 10 Gigawatts (GW) of installed Renewable Energy (RE) capacity by 2030, with an investment of ₹57,000 Crores. This move highlights the alignment of the company’s operations with national priorities and acknowledges the Government of India’s forward-looking policies that foster the growth of the RE sector.
The increasing use of Solar and Wind energy in electricity generation necessitates energy storage solutions to ensure reliable and dispatchable RE power. Torrent Power has identified potential sites for Pumped Storage Projects (PSP) in various states and plans to install approximately 5 to 8 GW of PSP capacity, with an investment ranging from ₹25,000 to ₹35,000 Crores.
Torrent Power has a proven track record of successfully executing and managing large infrastructure projects. With a robust financial standing, the company is well-positioned to significantly contribute to the nation’s goal of reaching 500 GW of renewable capacity by 2030.
About Torrent Power:
Torrent Power, part of the ₹41,000-Crore Torrent Group, is a major player in India’s power sector, with a comprehensive presence across generation, transmission, and distribution.
Generation:
- The company’s total installed generation capacity is 4.4 GWp, including 2.7 GW of gas-based capacity, 1.3 GWp of renewable capacity, and 362 MW of coal-based capacity. An additional ~3.1 GWp in renewable projects is under development, bringing the total generation capacity, including projects at advanced stages, to ~7.5 GWp.
Distribution:
- Torrent Power distributes nearly 30 billion units to over 4.13 million customers in Ahmedabad, Gandhinagar, Surat, Dahej SEZ, and Dholera SIR in Gujarat, the Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD), Bhiwandi, Shil, Mumbra, and Kalwa in Maharashtra, and Agra in Uttar Pradesh.
- It is widely recognized as a leading power distributor in India, with its Gujarat operations noted for having the lowest AT&C losses and the best reliability indices in the country.
The investment is expected to create around 25,000 direct and indirect jobs. On Monday, Torrent Power also signed a Memorandum of Understanding (MoU) with the Government of Gujarat to develop a 5 GW solar, wind, or solar-wind hybrid project in Dwarka District, Gujarat.
In the realm of next-generation energy reforms, Green Hydrogen is expected to play a crucial role in achieving net-zero emissions and decarbonizing challenging sectors. Torrent Power is actively exploring opportunities to develop Green Hydrogen and Green Ammonia Production projects for both export and domestic markets.
The second Shapath Patra submitted pertains to establishing a 1,00,000 Kilo Tonnes Per Annum (KTPA) Green Ammonia production facility, involving an investment of ₹7,200 Crores and generating around 1,000 jobs.
Mr. Samir Mehta, Chairman of Torrent Group, remarked, “As one of India’s largest private sector power utilities, Torrent Power is dedicated to contributing to the nation’s renewable energy goals. By signing these two Shapath Patras, we reaffirm our long-term commitment to a green and sustainable future, underscoring our dedication to advancing green initiatives.”
