Torrent Power Reaffirms Commitment to Green and Sustainable Future

Last update: Sep 16, 2024 | 12:31 PM IST

Plans to invest Rs 57,000 crore to achieve 10 GW of renewable energy capacity by 2030

Torrent Power reiterated its commitment to a green and sustainable future by submitting two Shapath Patra projects to the Ministry of New and Renewable Energy, Government of India, at the fourth edition of RE-Invest held in Gandhinagar on Monday.

The company has filed ‘Shapath Patra’ to achieve 10 gigawatts (GW) of installed renewable energy (RE) capacity by 2030 with an investment of Rs 57,000 crore. This investment is expected to generate direct and indirect employment for around 25,000 people. As part of these commitments, Torrent Power on Monday signed a Memorandum of Understanding (MoU) with the Gujarat government for setting up a 5 GW solar, wind or solar-wind hybrid project in Dwarka district of Gujarat.

In the next generation of energy reforms, Green Hydrogen is an important element that is expected to play a key role in achieving net zero emissions and decarbonizing hard-to-abate sectors. Torrent Power is actively seeking opportunities to develop Green Hydrogen and Green Ammonia projects to meet the needs of export and domestic markets.

The second project ‘Shapath Patra’ has been proposed to set up a green ammonia plant with a capacity of 1,00,000 kilotonnes per annum (KTPA). The investment will be Rs 7,200 crores and it will provide employment to about 1,000 people.

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First published: Sep 16, 2024 | 12:16 PM IST