April 2, 2024
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Torrent Power significant deal wins and expansion
Torrent Power announced that it has secured a significant contract for the development of a 150MW wind-solar hybrid project, valued at Rs.1,825 crore, through its ‘Distribution Unit’.
This project, awarded under a greenshoe option, is slated to commence operations within 24 months from the signing of the Power Purchase Agreement, with a contractual duration of 25 years.
The terms stipulate that the annual capacity utilisation factor (CUF) must not fall below 50% throughout the PPA tenure, with a prescribed ratio of 2:1 between the rated power capacity of wind and solar energy sources.
Torrent Power significant expansion: In addition to this, Torrent Power aims to bolster its renewable energy portfolio by installing 245MW of wind and solar capacity, exceeding the contracted 150MW, to ensure compliance with the mandated 50% CUF requirement.
The company’s stock witnessed a notable surge during Monday’s trading session
