Torrent to supply Green Power for Shapoorji Pallonji's Desalination Plants

Torrent Power Ltd. has, through its subsidiary Torrent Urja 8 Private Limited, entered into Power Transfer Agreement with subsidiaries of Shapoorji Pallonji & Company Private Limited (SPCPL) for supply of 132 MW Solar Power for its Desalination Plants in the state of Gujarat.

The estimated project cost of the 132 MW project is ₹ 700 Crores. Torrent Power's installed Renewable capacity is ~1.18 GW, and total power generation capacity of ~4.2 GW. With the signing of this 132 MW contract, Torrent now has 0.73 GW of Renewable capacity under different stages of development.

Torrent has been strategically focussing on the C&I segment for some time and has established itself as a credible player in the C&I space. In line with its sustainability commitments and the Government's aim to achieve 500 GW of non-fossil fuel capacity by 2030, Torrent's growth focus in Power Generation remains on Renewables. With a balanced Wind and Solar portfolio, it is also working on other Green Energy pathways of Pumped Hydro and Green Hydrogen.

Torrent Power, with a turnover of ₹ 25,694 Crores (approx. USD 3 billion) is the integrated power utility of the diversified Torrent Group with group revenues of ₹ 37,600 Cr (approx. USD 4.5 billion) and a Market Cap of ~ ₹ 1,00,000 Crore (approx. USD 12 billion). It is one of the largest power companies in India with presence across the entire power value chain of generation, transmission, and distribution.

Shares of Torrent Power Limited was last trading in BSE at Rs. 668.55 as compared to the previous close of Rs. 664.50. The total number of shares traded during the day was 21398 in over 1487 trades.

The stock hit an intraday high of Rs. 677.40 and intraday low of 656.60. The net turnover during the day was Rs. 14277555.00.

Source : Equity Bulls

Keywords

TorrentPower INE813H01021 PPA PowerSupply SolarPower DesalinationPlants SPCPL