Maharashtra : Torrent Power Limited has secured a significant achievement by being selected as a successful bidder and receiving a Letter of Award from Maharashtra State Electricity Distribution Co. Limited (MSEDCL) on March 7, 2024. The awarded project involves the establishment of a 306 MW grid-connected Solar power project spread across 48 distributed locations in Nasik District, Maharashtra. The Letter of Award was presented by the Hon’ble Deputy Chief Minister of Maharashtra, Shri Devendra Fadnavis.

  • The Company has been granted a Letter of Award (LOA) by Maharashtra State Electricity Distribution Co. Limited (MSEDCL) for the supply of 306 MW Solar power under the Mukhya Mantri Saur Krushi Vahini Yojana 2.0 scheme, aiming at feeder-level solarization under the PM KUSUM Scheme.
  • These projects are slated to be established at 48 distributed locations within Nasik District. MSEDCL will procure power through a 25-year Power Purchase Agreement (PPA).
  • Additionally, Torrent’s renewable capacity is poised to expand to 3 GW within the next 18-24 months.

The project is initiated by MSEB Solar Agro Power Limited (MSAPL) as part of the MSKVY 2.0 scheme, aimed at implementing feeder-level solarization under Component C of the PM-KUSUM scheme, linked to the distribution network. The project is scheduled to be commissioned within 18 months from the Letter of Award, with an estimated cost of ₹1,540 Crs. The tariff for the project is set at Rs. 3.10/kWh for a duration of 25 years.

The Government of Maharashtra (GOM) aims to provide stable daytime electricity to agricultural consumers through decentralized solar power projects. To facilitate the development of the MSKVY 2.0 scheme, GOM has adopted a cluster-wise approach, where revenue land and necessary approvals are already secured by MSAPL directly into the project Special Purpose Vehicles (SPVs). Torrent will acquire 100% equity shares of the Project SPV and will receive Central Finance Assistance (CFA) from the Central Government for eligible capacity under the terms of the PM KUSUM Scheme.

Torrent Power is steadfast in expanding its renewables portfolio, aligned with its commitment to bolster sustainable generation and contribute significantly to the country’s ambitious renewable targets. With the acquisition of this 306 MW capacity, Torrent’s renewable capacity under construction has surged to 1.7 GW. Upon completion of these 1.7 GW projects, Torrent’s renewable capacity is poised to reach 3 GW within the next 18-24 months. As part of its growth strategy, the Company is also exploring other Green Energy pathways such as Pumped Storage Hydro and Green Hydrogen.


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