Deals18 Sept 2024, 12:43 am
Torrent Power Receives LOI for 1,500 MW Pumped Hydro Storage Project from MSEDCL
AI Summary
Torrent Power Limited has received a Letter of Intent (LOI) from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) for procurement of 1,500 MW Energy Storage Capacity from Pumped Hydro Storage Project. The agreement is for a period of 40 years, and the energy storage capacity will be supplied from Torrent Power's upcoming pumped hydro storage plant in Raigad District, Maharashtra. The company plans to install about 5 to 8 GW of Pumped Storage Project (PSP) capacity, and is also working on other Green Energy pathways like Green Hydrogen and Green Ammonia Production projects. This development is a significant step towards increasing sustainable generation and contributing to the country’s ambitious renewable targets.
Key Highlights
- Torrent Power received LOI from MSEDCL for 1,500 MW Energy Storage Capacity from Pumped Hydro Storage Project.
- The agreement is for a period of 40 years, with energy storage capacity supplied from Torrent Power's upcoming plant in Raigad District, Maharashtra.
- Torrent Power plans to install about 5 to 8 GW of Pumped Storage Project (PSP) capacity.
- The company is also working on other Green Energy pathways like Green Hydrogen and Green Ammonia Production projects.
- This development is a significant step towards increasing sustainable generation and contributing to the country’s ambitious renewable targets.