Torrent Power Awarded 300 MW Solar PPA, Project to be Established in Gujarat
- Torrent Power has been granted a long-term PPA for 300 MW capability of solar energy generation, project to find up in Gujarat.
Torrent Power has revealed that it has actually been granted a long-term Power Purchase Arrangement (PPA) for 300 MW capacity of solar power generation. The firm has actually stated that it will set up the project in Gujarat, where its qualified distribution organization system will certainly procure the power produced for fulfilment of its Renewable Purchase Obligation (RPO).
The firm has signed a 25-year contract and also the tariff has actually been evaluated Rs 2.22 per kWh. The company expects the service the appointing of the project to be finished in 18 months, as well as at an estimated expense of Rs 1250 crore.
The firm exposed that with this new project its renewable profile has actually expanded to over 1300 MW. With 786.5 MW capability currently functional (648.5 MW wind power and also 138 MW solar energy), and also 515 MW capacity under growth (115 MW wind power and 400 MW solar energy).
In February, the Rs 13,641 crore incorporated power energy of the Torrent Group had actually announced that it had become the highest possible prospective buyer for the sale of 51 percent risk in the Power Circulation Companies (Discoms) in the UT of Dadra & Nagar Haveli and Daman & Diu. The bidding for which had actually been undertaken as part of the Federal government of India's initiative to privatise circulation energies of Union Territories to introduce performance, which will certainly provide a design for emulation by other utilities across the nation.
According to people knowledgeable about the advancements, the company sent a large proposal of Rs 555 crore to use up the majority share in the Discoms. Defeating ReNew Power Ventures and Adani Group, with each bidding around Rs 450 crore as well as Kolkata-based CESC that bid around Rs 300 crore in the sale process run by SBI Capital Markets.
In January 2019, the firm had actually released a Request for Selection (RfS) for procurement of power through affordable bidding process adhered to by e-reverse auction as much as 300 MW from grid-connected solar photovoltaic power projects in Gujarat.