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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.
Torrent Power has been awarded a long-term Power Purchase Arrangement (PPA) for 300 MW capacity of Solar Power Generation at a tariff of Rs 2.22 per kWh.
The project to be set up in Gujarat is estimated to cost Rs 1250 crore and is expected to be commissioned in 18 months from PPA date.
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KCCI welcomes move to allow net metering up to 500 kW for rooftop solar units
April 12, 2021
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Move to help India reach target of 40% energy generation through renewable sources by 2030; will also help maintain Karnataka’s pre-eminent position of solar power generation in the country
The Kanara Chamber of Commerce and Industry (KCCI) has welcomed the recent move of the Union Power Ministry to allow net-metering for loads up to 500 kW in the case of grid-interactive rooftop solar PV systems.
Isaac Vas, President of KCCI, told
BusinessLine that the ‘Draft Electricity (Rights of Consumer) Rules 2020’ had allowed net-metering for loads up to 5 kilowatts (kW) and gross-metering for loads above 5 kW in the case of grid-interactive rooftop solar PV systems.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Green Lantern Solar Expands With Two New Hires
Green Lantern SolarApril 6, 2021 GMT
WATERBURY, Vt., April 05, 2021 (GLOBE NEWSWIRE) Green Lantern Solar, a leading renewable energy development and construction company focusing on commercial-scale solar PV and energy storage systems, announces today the addition of Weston Martin as Director of Sustainable Relationships and Jon Sutton as Construction Manager. Both Martin and Sutton support Green Lantern Solar’s fast-growing Northeastern presence.
“We’re excited to welcome Weston and Jon to GLS,” said Green Lantern President Luke Shullenberger. “We are focused on expanding our presence in New England and other northeast markets. The expertise Weston and Jon bring to the table will be instrumental to our continued growth, and to our ability to partner with more municipalities, schools, universities, hospitals, and commercial and