Torrent Power gets letter of award to supply 150 MW renewable energy

Torrent Power has received a letter of award from its 'Distribution Unit' for the establishment of a 150 MW wind solar hybrid project with an investment outlay of Rs 1,825 crore. 

The renewable energy project will supply power at a tariff of Rs 3.65 per kWh, as per an exchange filing.

''...the company has received Letter of Award from Torrent Power Limited-Distribution Unit for setting up of 150 MW (RE Power) Grid-Connected Wind Solar Hybrid Projects under Greenshoe option,'' it said.

The project shall be commissioned within 24 months from Power Purchase Agreement (PPA), at a contract period of 25 years from the commissioning of the project.

The annual CUF (capacity utilisation factor) will not be less than 50 per cent for any year during the term of the PPA and rated power capacity of wind and solar will be in the ratio of 2:1.

To meet the 50 per cent CUF requirement, the company plans to install 245 MW of wind and solar capacity projects against a contracted capacity of 150 MW, it stated.