Ahmedabad, Aug 30 (BVI) Torrent Power Limited, a leading private sector integrated power utility with presence across generation, transmission and distribution, has received the Letter of Award (LoA) from MP Power Management Company Limited (MPPMCL) for long-term procurement of power from 1,600 MW new coal-based power plant.
The LoA is received pursuant to the Company’s participation in the competitive bidding process, conducted by MPPMCL, at a tariff of 5.829 Rs/kWh, the company announced.
The Company will set up a greenfield 2×800 MW Ultra-Supercritical power plant in Madhya Pradesh on Design, Build, Finance, Own, and Operate (DBFOO) model and supply the entire capacity to MPPMCL.
The requisite coal for the power plant will be arranged by MPPMCL under the SHAKTI Policy of Ministry of Coal.
The Project is to be commissioned within 72 months from the date of execution of the PPA.
This project entails an investment of approx. Rs 22,000 crores and will be the single largest investment by the Torrent Group in the power sector.
The project will be set up based on Ultra-Supercritical technology, which is highly efficient and results in significantly lower carbon emissions compared to conventional power plants.
Jinal Mehta, Vice Chairman and Managing Director of Torrent Power, said, “This investment by Torrent Power will play a significant role in achieving GoI’s ambitious target of 80 GW of additional coal-based capacity by 2032 to support the country’s economic growth and for adding much needed base load capacity to stabilize the grid.”
The project is expected to create about 8,000 to 10,000 direct and indirect jobs during its construction and 1,500 direct and indirect jobs during its operations phase.
With the addition of this capacity, Torrent Power will have a total locked-in generation and pump storage capacity of ~9.6 GWp and 3 GW respectively; comprising of installed generation capacity of 4.9 GWp and an under-development capacity of ~3.1 GWp of renewable projects, 1.6 GW of Thermal capacity and 3 GW of pumped storage capacity.
About Torrent Power:
Torrent Power, the ₹ 29,165 Crores integrated power utility of the about ₹ 45,000 Crores Torrent Group, is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution.
Generation:
The Company has a total locked-in generation and pump storage capacity of ~9.6 GWp and 3 GW respectively; comprising of installed generation capacity of 4.9 GWp and an under-development capacity of ~3.1 GWp of renewable projects, 1.6 GW of Thermal capacity and 3 GW of pumped storage capacity.
The aggregate installed generation capacity of 4.9 GWp comprises of 2.7 GW of gas-based capacity, 1.8 GWp of renewable capacity and 362 MW of coal-based capacity.
Distribution:
The Company distributes nearly 31 billion units to over 4.21 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD); Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
Torrent Power is widely considered to be the leading power distributor in India and in its licensed areas in Gujarat has the distinction of having the lowest AT&C losses and best reliability indices in the Country, reinforcing customer trust and satisfaction. (BVI)
