Torrent Power Limited has been selected as the successful bidder and has received a Letter of Intent (LOI) from Maharashtra State Electricity Distribution Co. Limited (MSEDCL) on September 17, 2024. The LOI is for the procurement of 1,500 MW/12,000 MWh of energy storage capacity from a pumped hydro storage project.
MSEDCL will issue a detailed Letter of Award once it secures the necessary approvals from the Maharashtra Electricity Regulatory Commission (MERC) in accordance with the tender document and the quoted tariff.
Torrent Power will supply 1,500 MW of storage capacity from its new pumped hydro plant in Raigad District, Maharashtra, under a Pumped Hydro Energy Storage Facility Agreement with MSEDCL. The plant will offer 8 hours of scheduled discharge daily (with a maximum of 5 continuous hours). MSEDCL will provide the input energy for charging.
With increased solar and wind energy use, the need for storage solutions is growing. Torrent Power plans to invest Rs 25,000 to Rs 35,000 crores in 5 to 8 GW of pumped storage projects and is also exploring green hydrogen and ammonia production. The Company is committed to supporting the country’s renewable energy targets.