Can increased focus on renewable energy change fortunes of Torrent Power?
The company has an aggregate installed capacity of 3879 MW, out of which 2730 MW is gas based, 362 MW coal based and 787 MW is renewable.
Synopsis
Starting from 50 MW wind power plant in 2012, the company has till date implemented various renewable projects over the years aggregating to 786.5 MW.
Shares of Gujarat based Torrent Power gained up to 3% after the company announced that it has been awarded a long-term power purchase agreement (PPA) for 300 MW capacity of solar power generation to be set up in Gujarat, from Licensed Distribution Business Unit of the Company. The project will be commissioned within 18 months from the date of execution of the PPA. Tariff for this project is Rs 2.22 kWh for a period of 25 years.