Torrent Power limited received LoA to set up solar hybrid project

The Name of the entity awarding the contract is Torrent Power Limited – Distribution Unit and the Significant terms and conditions of the order are awarded in brief which includes- The Tariff is Rs 3.65 per kWh and the Project shall be commissioned within 24 months from the Power Purchase Agreement (PPA).

Torrent Power limited received LoA to set up solar hybrid project

As per the filing made by the company, according to Regulation 30 read with Schedule Ill to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Company wishes to inform that it has received a Letter of Award from Torrent Power Limited-Distribution Unit for setting up of 300 MW (RE Power) Grid-Connected Wind Solar Hybrid Projects.

The contract was awarded by Torrent Power Limited – Distribution Unit, and the significant terms and conditions of the order are as follows: the tariff is Rs 3.65 per kWh, and the project must be commissioned within 24 months from the Power Purchase Agreement (PPA).

 

 

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• The contract period shall be 25 years from the Commissioning of the Project.

• The annual CUF shall not be less than 50% for any of the years during the term of the PPA & rated power capacity of wind and solar shall be in the ratio of 2:1.

• To meet the 50% CUF requirement, the Company plans to install 480 MW of wind and solar capacity against contracted capacity of 300 MW. The time by which the order is to be executed is 24 months.

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The Broad consideration or size of the order or Project cost is Rs 3650 Crore.

Torrent Power has a capacity optimum growth of 3092 MW with a unique mix of coal and gas-based power plants that use the latest power generation technologies to ensure high thermal efficiency. It also operates in the renewable energy segment with 787 MW capacity taking the aggregate installed generation capacity to 4110 MW.

 

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