New Delhi, September 17, 2024: Torrent Power Ltd, part of the Torrent Group, has committed over Rs 64,000 crore to renewable energy projects at ‘RE-Invest 2024’ in Gandhinagar.
The investment is expected to create 26,000 jobs. In a filing, the company outlined two major commitments to the Union Ministry of New and Renewable Energy.
The first pledge focuses on achieving 10 GW of installed renewable energy capacity by 2030, with an investment of Rs 57,000 crore, creating jobs for 25,000 people.
As part of this, Torrent Power has signed an MoU with the Government of Gujarat to execute a 5 GW solar, wind, or hybrid project in Dwarka District.
The second commitment involves setting up a 1,00,000 KTPA green ammonia production facility with a Rs 7,200 crore investment, generating 1,000 jobs according to the reports published in manufacturingtodayindia.com.
Chairman Samir Mehta highlighted the company’s dedication to supporting India’s renewable energy goals and its alignment with national priorities. Torrent Power also announced plans to invest Rs 25,000 to Rs 35,000 crore in Pumped Storage Projects (PSP) with 5-8 GW capacity across multiple states.
