Torrent Power wins 2,000 MW energy storage contract

Torrent Power Wins 2000 MW Energy Storage Contract From MSEDCL

By Lakshita Kapoor/ Updated On Wed, Oct 9th, 2024

Torrent Power Ltd has won a letter of award from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for long-term supply of 2,000 MW energy storage capacity from Torrent Power’s InSTS Connected Pumped Hydro Storage Plant in Maharashtra.

Of the 2,000 MW energy storage contract, 1,500 MW had been confirmed earlier by Torrent Power through an agreement letter in intent from MSEDCL on September 17, 2024. Now, it has added 500 MW capacity to take the total to 2,000 MW.

Under an Energy Storage Facility Agreement (ESFA), Torrent Power will supply a 40-year energy storage capacity to MSEDCL. The company will provide 2,000 MW with scheduled discharge capacity at 8 hours per day. The continuous maximum discharge shall be 5 hours per day. MSEDCL will provide input energy required for charging the storage system.

3 GW Of Pumped Hydro Projects Set To Boost MSEDCL’s Portfolio

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This has been identified based on growing energy storage demand with increasing integration of solar and wind energy. The firm has also identified several other Pumped Storage Project sites spread across various states to install about 5-8 GW of capacity. Those will include investment in the range of ₹25,000 to ₹35,000 crores.

Torrent Power is also working on additional green energy initiatives, including a brownfield green hydrogen and production of green ammonia projects. As of June 30, 2024, the Company has an aggregate installed generation capacity of 4.4 GWp comprising of 2.7 GW of gas-based capacity, 1.3 GWp of renewable capacity and 362 MW of coal-based capacity. Further, Renewable projects of 3.1 GWp are under development.

The company distributes nearly 30 billion units in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD), Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.