Torrent Power Receives Rs 2,700-Crore Order From Railway Energy Management – EQ
In Short : Torrent Power has received a Rs 2,700-crore order from Railway Energy Management Company Limited (REMCL). This order indicates the company’s involvement in providing energy solutions for the railways, contributing to the efficient and sustainable management of energy resources in the transportation sector.
In Detail : The project will be commissioned within 24 months after signing of the power purchase agreement.
Torrent Power Ltd. received an order from Railway Energy Management Co. to set up a renewable energy power plant.
The energy and power company received a letter of award from REMC for setting up a grid-connected renewable energy power plant project, with or without storage, according to an exchange filing on Friday. The power plant will supply 100 MW of round-the-clock power in Maharashtra.
The Rs 2,700 crore project will be commissioned within 24 months after the signing of the power purchase agreement. It will have a contract period of 25 years after the agreement is signed. The tariff is at Rs 4.25 per Kwh, the company said.
The project consists of 325 MW of wind and solar capacity for the supply of 100 MW of round-the-clock power.
Shares of Torrent Power closed 3.43% higher at Rs 1,116.65 apiece on the BSE, compared to a 1.72% advance in the benchmark Sensex.
