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Torrent Power wins 100 MW renewable power project of Railway Energy Management Company
Photo courtesy: UNI

Torrent Power wins 100 MW renewable power project of Railway Energy Management Company

India Blooms News Service | @indiablooms | 01 Mar 2024, 11:22 pm

New Delhi: Private integrated power utility major Torrent Power on Friday said it has emerged as the successful bidder for setting up grid-connected renewable power projects for the supply of 100 MW round-the-clock power for Railway Energy Management Company Limited.

Torrent Power Limited is a Rs 25,694 crore integrated power utility of the Rs 37,600 crore Torrent Group and is one of the largest companies in the country’s power sector with a presence across the entire power value chain – generation, transmission and distribution.

“Torrent Power Limited has emerged as the successful bidder and has received Letter of Award from Railway Energy Management Company Limited (REMCL) on 29th February 2024 for setting up of grid-connected renewable power projects, with or without storage, for the supply of 100 MW Round-The-Clock power,” the company said in a release.

The project shall be commissioned within 24 months from the signing of the Power Purchase Agreement.

The project cost is approx. Rs 2,700 Crore for installing about 325 MW of renewable capacity for the supply of 100 MW RE-RTC power.

The tender requires maintaining a minimum annual Capacity Utilisation Factor of 75 percent in the first 3 years and 85 percent from the 4th year onwards.

The tariff for the project is Rs 4.25 per Kwh for the period of 25 years, the company said adding Torrent is strategically focusing on Renewables to increase its generation capacity in line with its sustainability commitments and the government’s aim to achieve 500 GW of non-fossil fuel capacity by 2030.

With a balanced Wind and Solar portfolio, it is also working on other Green Energy pathways of Pumped Hydro and Green Hydrogen.

The company has an aggregate installed generation capacity of 4,287 MW comprising 2,730 MW of gas-based capacity, 1,195 MW of renewable capacity, and 362 MW of coal-based capacity.

Further, renewable projects of 1,402 MW are under development. Total generation capacity, including projects under advanced stages of development, is 5,689 MW.

Torrent Power is one of the leading power distributors in India and in its licensed areas in Gujarat has the distinction of having the lowest AT&C losses, the company claimed.

(With UNI inputs)

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