Gujarat-based Torrent Power sees huge growth potential in renewables and attractive opportunities for private-sector transmission players in strengthening the grid capacity to support the increased renewable power generation.
The company is looking at the opportunity of flexible generation to sell pooled, round-the-clock power [Renewable + Gas] at competitive cost on a long-term basis.
Significantly, other than energy storage, gas peaking plants—open-cycle gas turbines that can fire up rapidly—can also support increasing proportions of solar and wind generation in the grid as they provide instantly dispatchable electricity supply at times of low renewable resource.
Torrent Power Limited, the Rs 13,641-crore integrated power utility of the Rs 22,000-crore Torrent Group, is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution.
The company has an aggregate installed generation capacity of 3,879 MW comprising 138 MW of operational solar capacity over two locations and 649 MW of operational wind capacity over seven locations in addition to 2730 MW of state-of-the-art gas based power plants and 362 MW of coal based plants.
It reported consolidated net profit of Rs 1,178.88 crore in 2019-20 against Rs 903.83 crore in 2018-19. Total income stood at Rs 13,818.22 crore over Rs 13,340.56 crore in 2018-19.