Torrent Power lines up Rs 47k-cr capex in Gujarat

New Delhi: Torrent Power has inked four initial pacts with the Gujarat government to invest Rs47,350 crore in renewable energy, green hydrogen and electricity distribution.

Torrent Power Ltd, the integrated power utility of the diversified Torrent Group, has signed four non-binding Memorandum of Understanding (MoUs) with the government of Gujarat under the 10th edition of Vibrant Gujarat Global Summit, according to a company statement issued late in the evening on Wednesday.

The MoUs were signed between Torrent Power and Gujarat Energy Development Agency (GEDA) in Gandhinagar. Through the four MoUs, Torrent Power has proposed total investments of Rs47,350 crores ($5.70 billion), it stated.

The proposed investments are planned to be made in the areas of renewable energy, green hydrogen and power distribution and are expected to contribute significantly towards the development of the state and creation of large-scale employment opportunities.