Torrent Power has unveiled a significant investment aimed at boosting its portfolio in renewable energy projects, reflecting its commitment to sustainable growth and innovation. Torrent Power has committed a substantial ₹64,000 crore towards renewable energy projects, aiming to expand its green energy capacity and create thousands of jobs. This announcement was made during the 4th Edition of RE-Invest, organized by the Union Ministry of New and Renewable Energy in partnership with CII.
The company has set ambitious goals, including an investment of ₹57,000 crore to achieve a 10 Gigawatt (GW) renewable energy capacity by 2030. This effort is projected to generate around 25,000 jobs directly and indirectly.
Additionally, Torrent Power signed a Memorandum of Understanding (MoU) with the Gujarat government to develop a 5 GW solar, wind, or solar-wind hybrid project in Dwarka. This move is part of a broader commitment to advance renewable energy and support national goals for sustainability.
Torrent Power is also focusing on green hydrogen as a crucial element in energy reform and achieving net-zero emissions. The company plans to develop green hydrogen and ammonia production projects, with a ₹7,200 crore investment in a new 1,00,000 Kilo Tonnes Per Annum (KTPA) Green Ammonia production facility, which will create approximately 1,000 jobs.
Samir Mehta, Chairman of Torrent Group, emphasized the company’s dedication to supporting India’s renewable energy goals and aligning with national priorities.
With the increasing reliance on solar and wind energy, there is a growing need for energy storage solutions. Torrent Power has identified sites for Pumped Storage Projects (PSP) across several states, planning to invest between ₹25,000 crore and ₹35,000 crore to install 5 to 8 GW of PSP capacity.
As one of India’s major power utilities, Torrent Power is well-positioned to help meet the nation’s target of 500 GW of renewable capacity by 2030. The company’s strong financial standing and extensive experience in large infrastructure projects underscore its capability to drive progress in the renewable energy sector.
