Torrent Power Wins Rs 2,700 Cr Round-the-Clock Renewable Energy Project

New Delhi, Mar 1 (PTI) Torrent Power on Friday said it has received a Letter of Award (LoA) from the Railway Energy Management Company Ltd (REMCL) for a grid-connected round the clock renewable power project.

The project shall be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA), Torrent Power said in a statement.

"The project cost is approximately Rs 2,700 crore for installing about 325 MW of renewable capacity for supply of 100 MW RE-RTC power. The tender requires to maintain minimum annual capacity utilisation factor of 75 per cent in the first 3 years and 85 per cent from fourth year onwards," Torrent Power said.

The 325 MW of renewable capacity includes wind, solar, and battery storage, the company said.

The project has been secured at tariff of Rs 4.25/Kwh for a period of 25 years.