Torrent Power Limited (TPL) has clinched significant victories in both renewable and conventional energy sectors, reinforcing its stature as a pivotal player in India’s power landscape. The company secured a Letter of Award from Railway Energy Management Company Limited (REMCL) through a competitive bidding process, paving the way for a 100 MW Round-The-Clock (RE-RTC) power project valued at around Rs. 2,700 crores. This initiative involves installing 325 MW of renewable capacity and is slated for completion within 24 months.
Furthermore, TPL has inked a contract with NVVN to supply power from its gas-based plant during the upcoming summer season, spanning from March 16, 2024, to June 30, 2024. This agreement, aimed at addressing surging power demands during peak summer periods, mandates TPL to deliver 770 MW of capacity with a minimum guaranteed supply of 388 MUs throughout the contract duration. The deal underscores TPL’s gas-based power generation’s efficiency and adaptability in meeting peak summer electricity needs.
Torrent Power Limited operates in power generation, transmission, and distribution sectors, serving as a distribution licensee in key regions such as Ahmedabad, Gandhinagar, Surat, Dahej SEZ, Dholera SIR, Dadra, Nagar Haveli, Daman, and Diu, along with being a distribution franchisee for Bhiwandi, Agra, and SMK (Shil, Mumbra, Kalwa). With a remarkable multibagger return of over 180 per cent in the past three years, the company’s stock has demonstrated robust growth, warranting investors’ close attention.
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