Torrent Power has been allotted 6,000 hectares of land in Gujarat to develop green hydrogen and renewable energy projects. The company will develop 3 GW of renewable energy projects comprising solar and wind capacities. The projects will include various key projects and state discount projects.
Torrent said it will start developing these projects as and when it ties up the power purchase agreements (PPAs).
Torrent Power is present across the entire power value chain of generation, transmission, and distribution. It has a portfolio of coal-based, gas-based, and renewable power plants.
Going forward, the company intends to focus more on the renewable energy segment along with its core business of transmission and distribution. In the RE segment, it is actively looking at inorganic acquisitions as well as greenfield projects. The company targets about 5 GW of RE capacity in the next three to five years’ time.
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