Torrent Power Limited (TPL) plans a comprehensive investment of Rs 473.5 billion encompassing renewable energy, green hydrogen, and power distribution and has announced the same against the backdrop of he 10th edition of Vibrant Gujarat Global Summit. For the intended investment, Torrent Power and the Gujarat government have inked four non-binding MoUs.
Of the four MoUs, one of them is for the development of 3,450 MW and 1,045 MW of solar power projects and hybrid power projects, in the districts of Banaskantha, Jamnagar, Patan, and Surendranagar, respectively, involving a cumulative investment of Rs 306.5 billion. Another MoU is for the construction of a 7,000 MW solar power plant in the Banaskantha district, with a commitment of Rs 45 billion for establishing a solar park. The third MoU entails the development of a production facility for green hydrogen or green ammonia with a 100 kilo tonnes per annum capacity in Banaskantha or Dahej, involving a total investment of Rs 72 billion. The fourth MoU involves an investment of Rs 50 billion in Torrent Power’s distribution business in Ahmedabad, Gandhinagar, Surat, Dahej SEZ, and Mandal Becharaji SIR.
In July 2023, TPL and Siemens collaborated to set up electric vehicle charging stations.
In May 2023, Suzlon Group announced that it received an order for its new 3 MW series wind turbines to establish a 300 MW wind power project for TPL.
