Torrent Power Commits Rs 64,000 Crore Investment in Green Energy Projects
Key Ideas
  • Torrent Power pledges Rs 64,000 crore investment for green energy projects, aiming to create employment for 26,000 individuals.
  • The company commits to achieving 10 GW of installed Renewable Energy capacity by 2030, with an investment of Rs 57,000 crore.
  • Torrent Power signs an MoU with the Gujarat government for a 5 GW solar, wind, or hybrid project in Dwarka, Gujarat.
  • Additionally, Torrent Power plans to develop Green Hydrogen and Green Ammonia Production projects to contribute to decarbonization efforts.
Torrent Power, a part of the Torrent Group, has shown a strong commitment to green and sustainable energy projects by pledging a significant investment of Rs 64,000 crore. The company aims to create employment opportunities for 26,000 individuals through these green energy initiatives. By signing a 'Shapath Patra' at the RE-Invest event in Gandhinagar, Torrent Power aims to achieve 10 GW of Renewable Energy capacity by 2030 with an investment of Rs 57,000 crore, generating employment for about 25,000 people. Furthermore, the company has entered into an MoU with the Gujarat government for a large solar, wind, or hybrid project in Dwarka, Gujarat. In line with future energy reforms, Torrent Power is actively exploring the development of Green Hydrogen and Green Ammonia Production projects to address both domestic and export markets. The company also plans to set up a Green Ammonia production facility with an investment of Rs 7,200 crore, creating jobs for around 1,000 individuals. Torrent Power's commitment to advancing green energy aligns with national priorities and aims to support the nation's renewable energy targets. With plans for introducing energy storage solutions like Pumped Storage Projects and a strong balance sheet, Torrent Power is well-positioned to play a significant role in achieving the country's renewable energy goals.
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