Torrent Power has received a letter of award (LoA) for setting up a 300 MW wind-solar hybrid project. The project was awarded by the power utility firm's distribution unit.

The project, with a cost of Rs 3,650 crore, will be commissioned within 24 months from the power purchase agreement (PPA). The project will have a tariff of Rs 3.65/kWh, and a contract period of 25 years.

As per the significant terms and conditions of the order, the annual capacity utilisation factor (CUF) will not be less than 50 percent for any of the years during the term of the PPA, and rated power capacity of wind and solar will be in the ratio of 2:1. Hence, to meet the 50 percent CUF requirement, the company plans to install 480 MW of wind and solar capacity against contracted capacity of 300 MW.

Recently, the company received a LoA from Maharashtra Sate Electricity Distribution Company, for setting up a 306 MW solar power facility connected to the grid in Nashik.