Torrent Power to invest Rs 600 billion for renewable energy projects

Torrent Power, an integrated utility based in Gujarat will be developing 10 GW of renewable energy projects in Rajasthan. The Torrent Group will invest more than Rs 600 billion in renewable energy projects, including green hydrogen, in the Indian state of Rajasthan. The company is currently identifying plots of land for these projects. 

Recently in August 2022, Torrent Power announced the acquisition of a 100 per cent stake in Wind Two Renergy Private Limited (WTRPL) from Inox Green Energy Services for Rs 325.1 million. The company purchased 32,510,000 equity shares of WTRPL at a face value of Rs 10 each. This acquisition contributes to Torrent’s focus on sustainable growth through renewable energy.

Also in July 2022, the Solar Energy Corporation of India issued a letter of award to Torrent Power for the development of a 300 MW wind energy project in Karnataka at a tariff of Rs 2.94 per kWh. 

 

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