Priyanka Tiwari
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Suspense crime, Digital Desk : Torrent Power is significantly expanding its footprint in the green energy sector after its subsidiary, Torrent Green Energy Private Limited (TGEPL), won a major contract to develop a 300-megawatt (MW) wind power project. The contract was awarded by the state-run Solar Energy Corporation of India (SECI), a key body driving India's renewable energy goals.
The large-scale project, valued at an estimated ₹2,600 crore (approximately $312 million USD), is a significant victory for the company. Under the terms of the agreement, TGEPL will supply power to SECI for a period of 25 years at a competitive tariff of ₹3.23 per kilowatt-hour (kWh). The company has a 24-month timeline to complete and commission the project once the formal Power Purchase Agreement (PPA) is signed.
This latest acquisition boosts Torrent Power's total renewable energy portfolio—which includes operational, under-construction, and newly awarded projects—to a robust 3.6 gigawatts (GW). The company's pipeline of projects currently under development now stands at an impressive 1.7 GW.
On the stock market, news of the deal was met with a muted immediate response. Torrent Power's shares were trading marginally lower around the ₹1,489 mark. However, this minor dip comes in the context of a stellar year for the stock, which has surged from a 52-week low of ₹552.20, reflecting strong investor confidence in its long-term growth and strategic direction.
