Torrent Power Limited, an established company and distribution licensee for the areas of Ahmedabad, Gandhinagar, and Surat, has filed a petition concerning the revision of the minimum quantum of purchase from renewable energy sources for the fiscal year 2022-23. This petition has been submitted to the Gujarat Electricity Regulatory Commission (GERC) under relevant regulations promoting renewable energy.
In this petition, Torrent Power Limited highlights its efforts and compliance with the Renewable Purchase Obligation (RPO) regulations set by the commission. For the fiscal year 2022-23, the company was tasked with ensuring a specific percentage of its energy procurement came from renewable sources, including wind, solar, and biomass.
Torrent Power Limited’s total energy requirement for the fiscal year 2022-23 was 12,618.66 million units. The company made notable efforts to meet its obligations, particularly in wind and solar energy procurement. For wind energy, the target was set at 8.25% of the total energy requirement, translating to 1,041.04 million units. The company achieved a compliance rate of 10.40%, exceeding the target with 1,310.84 million units procured from wind sources. This was achieved through long-term contracts and purchases from the Green Day Ahead Market, as well as additional procurement from waste-to-energy plants.
In terms of solar energy, the target was set at 8.00% of the total energy requirement, which equated to 1,009.49 million units. Torrent Power managed to procure 861.16 million units, achieving a compliance rate of 6.82%. Despite the shortfall, the company actively sought to meet its obligations by engaging in long-term solar power purchase agreements and sourcing additional solar energy from the Green Day Ahead Market. The shortfall was attributed to delays in the commissioning of a 450 MW solar power project initially set for November 2022 but delayed to April 2024 due to unforeseen circumstances.
The combined target for renewable energy procurement, including biomass, was 17.00% of the total energy requirement, translating to 2,145.17 million units. Torrent Power’s actual procurement stood at 2,172 million units, which shows a marginal surplus in their overall renewable energy obligations.
Torrent Power Limited has approached the GERC with a request to adjust the surplus in non-solar renewable energy procurement against the shortfall in solar energy procurement. They have also requested that any surplus in renewable energy procurement for the fiscal year 2022-23 be considered towards any shortfall in the previous fiscal year 2021-22.
In the petition, the company assures the commission of its bona fide efforts to comply with the renewable energy procurement targets. The petition includes a detailed account of the company’s energy procurement activities and the challenges faced, particularly in the context of solar energy procurement delays.
The GERC has directed Torrent Power Limited to issue a public notice inviting objections and suggestions from stakeholders regarding the petition. This notice was duly published in several newspapers and made available on the company’s website.
Torrent Power Limited has made significant strides in renewable energy procurement, demonstrating a proactive approach to meeting regulatory requirements and contributing to the promotion of sustainable energy sources in Gujarat. The petition reflects the company’s commitment to adhering to regulatory standards and its ongoing efforts to address any shortfalls through strategic adjustments and proactive measures.
Please view the document here for more details.
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