Torrent Power Limited, the integrated power utility of Torrent Group, announced an investment of over Rs 64,000 crore in renewable energy projects at ‘RE-Invest 2024’ in Gandhinagar. This investment is expected to create potential employment opportunities for 26,000 people. The company has committed to achieving 10 gigawatts of installed renewable energy capacity by 2030 with an investment of Rs 57,000 crore, aiming to generate direct and indirect employment for around 25,000 people. Additionally, Torrent Power has signed a Memorandum of Understanding with the Government of Gujarat for a 5 GW solar, wind, or solar-wind hybrid project in Dwarka District.
Furthermore, Torrent Power has submitted a ‘Shapath Patra’ for setting up a 1,00,000 Kilo Tonnes Per Annum green ammonia production facility with an investment of Rs 7,200 crore, expected to provide employment for around 1,000 people. Samir Mehta, Chairman of Torrent Group, expressed the company’s commitment to contributing to India’s renewable energy journey and creating a green and sustainable future. The company’s operations are aligned with national priorities, and they appreciate the government’s support in fostering the growth of the renewable energy sector.
In addition to the above commitments, Torrent Power has identified Pumped Storage Project (PSP) sites in multiple states and plans to install about 5 to 8 GW of PSP capacity, with an investment ranging from Rs 25,000 to Rs 35,000 crore. The company has a successful track record of commissioning and operating large infrastructure projects. Torrent Power, a Rs 27,183-crores integrated power utility of the Rs 41,000-Crores Torrent Group, is among the largest companies in India’s power sector, operating across the generation, transmission, and distribution segments.
Overall, Torrent Power is positioning itself as a key player in India’s renewable energy sector, with significant investments and commitments to support the country’s green energy goals. The company’s initiatives not only contribute to economic growth but also align with environmental sustainability objectives. By focusing on renewable energy projects, Torrent Power is demonstrating its dedication to advancing clean energy solutions and supporting the government’s efforts in promoting a greener future. With its strategic partnerships and forward-looking approach, Torrent Power is well-positioned to make a significant impact in the renewable energy space and play a key role in India’s energy transition.
