Torrent Power emerges as the Successful Bidder for 'Transmission System for Evacuation of Power from RE Projects in Solapur SEZ in Maharashtra'

Torrent Power Limited has emerged as the Successful Bidder and has received Letter of Intent from PFC Consulting Limited on February 27, 2024 for Establishment of Inter-state transmission scheme "Transmission System for Evacuation of Power from RE Projects in Solapur (1,500 MW) SEZ in Maharashtra" under Tariff Based Competitive Bidding (TBCB) Process.

The project has been conceived to evacuate Renewable energy with a capacity of 1,500 MW from Solapur and entails the setting up of a transmission line of approx. 44 kms from existing Solapur substation of PGCIL to Solapur substation (to be established by Torrent Power).

In due course, PFC consulting Limited will transfer the project SPV to Torrent Power.

While Torrent Power owns and operates Transmission projects; the award of this project marks Torrent Power's foray into the development of Transmission projects under the TBCB framework.

Shares of Torrent Power Limited was last trading in BSE at Rs. 1151.95 as compared to the previous close of Rs. 1116.50. The total number of shares traded during the day was 35741 in over 2303 trades.

The stock hit an intraday high of Rs. 1167.00 and intraday low of 1114.55. The net turnover during the day was Rs. 40919459.00.

Source : Equity Bulls

Keywords

TorrentPower INE813H01021 SuccessfulBidder TransmissionSystem PowerEvacuation REProjects Solapur