Torrent Power has inked four non-binding memorandums of understanding (MoUs) totalling Rs 47,350 crore with the Government of Gujarat under the 10th edition of Vibrant Gujarat Global Summit. These MoUs were signed between Torrent Power and Gujarat Energy Development Agency (GEDA) in Gandhinagar on 03 January, 2024.

The proposed investments would be utilised in sectors such as renewable generation, pump storage hydro projects, green hydrogen/green ammonia production, and power distribution, creating large-scale employment opportunities.

Among these, the first MoUs comprise 3,450 MW of solar power projects and 1,045 MWs of hybrid power projects to be established in Banaskantha, Jamnagar, Patan, and Surendranagar, entailing a proposed investment of Rs 30,650 crore. The second MoU involves an investment of Rs 4,500 crore for infrastructure of a solar park for a 7,000 MW solar project to be set up in the Banaskantha.

Similarly, the company has signed a third MoU for setting up a green hydrogen/green ammonia production facility in Banaskantha /Dahej with a capacity of 100 ktpa for  Rs 7,200 crore. The fourth MoU includes an investment of Rs 5,000 crore in Torrent’s distribution business in Ahmedabad, Gandhinagar, Surat, Dahej SEZ, and Mandal Becharaji SIR (MBSIR).

Torrent Power, the integrated power utility of the diversified Torrent Group, has marked its presence across the entire power value chain across generation, transmission, and distribution.