Torrent Green Energy has commissioned 322 MWp of ground-mounted decentralised solar power projects across Nashik district in Maharashtra. The company informed stock exchanges of the development on Tuesday. The projects were built under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, a state scheme meant to solarise power feeders that supply farms.
Torrent Green Energy is a wholly owned subsidiary of Torrent Power.
322 MWp solar capacity spread across 50 sites in Nashik
The solar portfolio is spread across 50 locations. These sites span 14 talukas of Nashik district. The company described it as one of the most geographically diversified agricultural feeder solarisation projects built under the MSKVY framework so far.
The scheme itself falls under Component C of the central government’s PM-KUSUM programme, which supports solarisation at the feeder level. The idea is to place solar generation close to where farmers actually draw power, rather than routing it through the wider grid, the filing mentioned.
MSEDCL to purchase solar power under 25-year agreement
Electricity generated from the project will be supplied to the Maharashtra State Electricity Distribution Company Limited. The arrangement is backed by a power purchase agreement running for 25 years.
According to the company, the setup is intended to give farmers daytime electricity access, since agricultural feeders have traditionally depended on power supplied at night in several parts of Maharashtra. Torrent said the arrangement should also improve grid efficiency and cut distribution losses on these feeders.
50-site solar project required land, grid connectivity and local clearances
Building solar capacity across 50 separate sites is not a single construction exercise. It required land to be secured at each location, along with grid connectivity and local clearances. Construction activity had to run simultaneously across sites for the project to be completed on schedule, the filing noted.
About Torrent Power
Torrent Power is an integrated power utility and part of the Torrent Group, with operations spanning generation, transmission and distribution. The company traces its roots to 1996, when three Torrent Group power entities were later merged to form Torrent Power, and it is headquartered in Ahmedabad.
Its generation portfolio includes thermal, gas-based and renewable capacity, and it distributes electricity to millions of customers across cities including Ahmedabad, Gandhinagar and Surat in Gujarat, Bhiwandi and Shil-Mumbra-Kalwa in Maharashtra, and Agra in Uttar Pradesh. In Gujarat, the company has been recognised for having among the lowest distribution losses and highest reliability indices in the country.
Torrent Power share price
Torrent Power’s share price ended at 0.22% as of market close on September 8. The company’s share price has declined 4.79% in the past 1 month. Over the last year, Torrent Power’s share price has been up 1.42%.