Torrent Power Limited, a leading integrated power utility of the diversified Torrent Group, has committed investments exceeding ₹64,000 crore at the 4th edition of RE-Invest, held in Gandhinagar. This investment is projected to generate employment for around 26,000 people across various sectors.
During the event, the company submitted two ‘Shapath Patras’ (pledge documents) to the Union Ministry of New and Renewable Energy. The first Shapath Patra details Torrent Power’s commitment to install 10 Gigawatts (GW) of renewable energy (RE) capacity by 2030. This initiative involves a planned investment of ₹57,000 crore and is expected to create employment for approximately 25,000 individuals.
Additionally, the company has inked a Memorandum of Understanding (MoU) with the Government of Gujarat for the development of a 5 GW solar, wind, or solar-wind hybrid project in the Dwarka district of Gujarat.
Torrent Power’s second Shapath Patra outlines plans to set up a 100,000 Kilo Tonnes Per Annum (KTPA) Green Ammonia production facility with an investment of ₹7,200 crore. This project is projected to create 1,000 jobs, catering to both domestic and international markets as part of India’s broader green hydrogen initiative.
The company emphasized the role of green hydrogen in reducing emissions and decarbonizing sectors that are challenging to address. Torrent Power’s Chairman, while speaking at the event, reiterated the company’s commitment to aligning its operations with India’s renewable energy goals.
Furthermore, Torrent Power is eyeing significant investments in energy storage solutions, particularly through Pumped Storage Projects (PSP). The company has identified sites across multiple states and plans to install 5 to 8 GW of PSP capacity, with a potential investment ranging from ₹25,000 crore to ₹35,000 crore.
With its strong track record and robust financial position, Torrent Power aims to play a key role in achieving India’s target of 500 GW of renewable energy capacity by 2030.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
