By quoting Rs 3.65 per kWh, Torrent Power has bagged the auction to procure power from 300 MW of wind-solar hybrid projects, with a greenshoe option of up to 150 MW from its own distribution unit, Torrent Power Distribution. The tender was issued in January 2024. The tender required selected projects to maintain a ratio of 2:1 between wind and solar technologies, with 66.67 per cent allocated to wind and the remaining portion to solar.
The company is required to complete the projects within 24 months of signing the power purchase agreement (PPA). To ensure a minimum annual capacity utilisation factor of 50 per cent throughout the PPA duration, Torrent Power intends to install a total combined capacity of 245 MW MW in wind and solar, surpassing the contracted capacity of 150 MW. The overall project expenditure amounts to Rs 54.75 billion, comprising Rs 36.5 billion for the initial 300 MW project and Rs 18.25 billion for the 150 MW greenshoe project.
In March 2024, Torrent Power received the letter of intent by PFC Consulting for the development of an inter-state transmission system to facilitate the power evacuation from 1,500 MW clean energy projects located in Solapur, Maharashtra.
