Torrent Power Ventures into Green Hydrogen and Ammonia Production, Commits to Renewable Energy Growth
Key Ideas
  • Torrent Power invests Rs 7,200 crore in green hydrogen and ammonia production, aiming to contribute to the nation's renewable energy journey.
  • The company plans to attain 10 gigawatts of renewable energy capacity by 2030, with additional investments in projects worth Rs 57,000 crore.
  • Torrent Power also pursues a pumped storage power project capacity of 5-8 GW with investments ranging from Rs 25,000 to Rs 35,000 crore.
  • The utility signed an MoU with the Gujarat government for 5 GW solar, wind, or solar-wind hybrid projects in Dwarka district, Gujarat.
Torrent Power Ltd, based in Ahmedabad, India, has announced its foray into green hydrogen and ammonia production with a significant investment of Rs 7,200 crore. This move is part of the company's commitment to renewable energy growth, with plans to achieve 10 gigawatts of capacity by 2030, in addition to existing projects worth Rs 57,000 crore. The green hydrogen and ammonia project is targeted at both domestic and export markets and is expected to create around 1,000 direct and indirect jobs. Alongside renewable energy initiatives, Torrent Power is also focusing on a pumped storage power project with a capacity of 5-8 GW. The company recently penned an MoU with the Gujarat government for the development of 5 GW of solar, wind, or hybrid projects in Dwarka district. The chairman of Torrent Group, Samir Mehta, highlighted the company's dedication to advancing green energy solutions and alignment with national priorities. With a total installed generation capacity of 4.4 GW and additional projects under development, Torrent Power plays a significant role in the power sector, distributing electricity to millions of customers in various cities across India.
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