Torrent Power's Ambitious Renewable Energy Plan for India

Torrent Power Limited, a prominent player in India's energy sector, has announced an ambitious commitment to renewable energy and green hydrogen initiatives, with investments exceeding INR 64,000 crore. This significant investment demonstrates the company's dedication to shaping a sustainable and low-carbon future for India.

• The company's commitment was declared at the 4th edition of RE-Invest in Gandhinagar, India, where they submitted two 'Shapath Patras' (pledge letters) to the Ministry of New and Renewable Energy.
• These pledges outline Torrent Power's comprehensive plan to contribute significantly to India's renewable energy landscape.

10 GW Renewable Energy Capacity by 2030 in India

Torrent Power's first pledge focuses on achieving a remarkable target of 10 gigawatts (GW) of renewable energy (RE) capacity by 2030. This ambitious goal will be powered by an investment of INR 57,000 crore, further solidifying the company's position as a leading player in India's renewable energy sector.

• This initiative is expected to create direct and indirect employment for approximately 25,000 individuals, contributing to India's economic growth and development.
• The company has already taken a significant step towards this goal by signing a Memorandum of Understanding (MoU) with the Gujarat government for a 5 GW solar, wind or hybrid project in Dwarka district. This strategic move further cements Gujarat's position as a renewable energy hub in India.

Torrent Power's Investment in Green Hydrogen in India

In a parallel effort to accelerate the adoption of next-generation energy solutions, Torrent Power's second pledge focuses on establishing a 100,000 kilo tonnes per annum (KTPA) green ammonia production facility. This project, with an investment of INR 7,200 crore, is designed to support both domestic consumption and exports of green hydrogen, contributing to India's energy security and environmental sustainability.

• The green ammonia production facility is projected to generate employment for an additional 1,000 individuals, further boosting India's economic growth and job creation efforts.
• Torrent Power's commitment to green hydrogen development demonstrates their understanding of the crucial role this technology will play in India's transition to a sustainable energy future.

Torrent Power's Commitment to India's Sustainable Energy Future

Samir Mehta, chairman of Torrent Group, emphasized the company's unwavering commitment to contributing to India's renewable energy journey. He stated, "Torrent Power stands committed to contributing to the nation's RE journey. By signing two 'Shapath Patras' we have reaffirmed our long-term commitment towards a green and sustainable future."

• Torrent Power's investment strategy aligns with India's national priorities and its ambitious target of achieving 500 GW of renewable energy capacity by 2030.
• The company's dedication to advancing green energy solutions highlights their commitment to driving both economic growth and environmental sustainability in India.

Energy Storage Solutions for a Reliable Grid in India

Beyond renewable energy and green hydrogen, Torrent Power is also investing in energy storage solutions to ensure a reliable and resilient power grid in India. They are identifying pumped storage project (PSP) sites, a crucial technology for managing the intermittency of renewable energy sources, with further investments of INR 25,000 to INR 35,000 crore. These projects underscore Torrent Power's pivotal role in helping India meet its energy targets and achieve a sustainable energy future.

• Torrent Power's commitment to energy storage solutions is a testament to their forward-thinking approach to addressing the challenges and opportunities presented by the transition to a renewable energy future.
• The company's investments in renewable energy, green hydrogen, and energy storage solutions showcase their holistic vision for contributing to a sustainable and prosperous India.