The project will be commissioned within 18 months from the date of execution of the PPA
Power firm Torrent Power Ltd is spending around Rs 1,250 crore to set up a solar power plant of 300 MW capacity in Gujarat, the company said in a statement, adding that it has agreed to sell the electricity generated at Rs 2.22 per unit for a period of 25 years
“Torrent Power Limited has been awarded a long-term Power Purchase Arrangement (PPA) for 300 MW capacity of solar power generation to be set up in Gujarat, from a licensed distribution business unit,” said the statement.
“The tariff for this project is Rs 2.22 per kWh for a period of 25 years. The cost involved in the project is about Rs 1,250 crore,” it added.
Furthermore, the project will be commissioned within 18 months from the date of execution of the PPA.
Torrent, which entered the renewable energy space in 2012 with a 50 MW wind power plant, has till date implemented various renewable projects aggregating to around 786.5 MW (648.5 MW wind and 138 MW solar).
Besides these operational projects, around 515 MW renewable power projects (115 MW wind and 400 MW solar) are under implementation (including the 300 MW project).
It distributes nearly 16.66 billion units to over 3.65 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat; Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
