Torrent Power's Green Commitment: Investments in Renewable Energy and Hydrogen Production
Key Ideas
- Torrent Power commits to investing Rs 57,000 crore to achieve 10 GW of installed Renewable Energy capacity by 2030, creating employment for 25,000 people.
- The company signs MoU with the Government of Gujarat for a 5 GW solar, wind, or solar-wind hybrid project in Dwarka District, Gujarat.
- Additionally, Torrent Power submits plans for a 1,00,000 KTPA Green Ammonia production facility with Rs 7,200 crore investment, targeting export and domestic markets.
- Recognizing the importance of Green Hydrogen, Torrent Power is focusing on developing projects to support net-zero emissions and decarbonization efforts.
Torrent Power Limited, a part of the Torrent Group in India, has demonstrated its commitment to green and sustainable initiatives by participating in the 4th Edition of RE-Invest in Gandhinagar. The company pledged investments of Rs 57,000 crore to achieve 10 GW of Renewable Energy capacity by 2030, aiming to create substantial employment opportunities. In collaboration with the Government of Gujarat, Torrent Power intends to execute a significant solar, wind, or hybrid project in Dwarka District. Furthermore, recognizing the significance of Green Hydrogen in energy reforms, the company has submitted plans for a 1,00,000 KTPA Green Ammonia production facility, emphasizing its focus on net-zero emissions and decarbonization. The Chairman of Torrent Group expressed the company's dedication to contributing to India's renewable energy journey and lauded the government's supportive policies. Additionally, Torrent Power is exploring Pumped Storage Project sites in various states to address the energy storage requirements accompanying increased Solar and Wind energy penetration. With a strong financial standing and successful track record in infrastructure projects, Torrent Power is poised to significantly support India's renewable energy target of 500 GW by 2030.
Topics
India
Renewable Energy
Sustainability
Energy Storage
Ammonia Production
Infrastructure Projects
Government Partnership
Employment Generation
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