Torrent Power bids successfully to supply 388 MU power under govt scheme

Torrent Power has emerged as the successful bidder to supply 388 million units (MU) of electricity from its gas-based plant under a government scheme from March 16, 2024, to June 30, 2024, the company said on Friday.

It has been awarded a contract by NTPC Vidyut Vyapar Nigam Limited (NVVN) under the government's Crunch Period scheme to overcome high power demand during summer, the company said in a statement.

According to the statement, Torrent has a 2,730 MW gas-based power generation capacity.

Torrent Power has emerged as a successful bidder under the competitive bidding, and received a Letter of Award from the NVVN on March 1, 2024, for the supply of power from its gas-based power plant during the forthcoming summer's crunch/high power demand periods from March 16, 2024, to June 30, 2024, period.

The government, through NVVN, came up with the crunch / high-demand period scheme last year to harness Gas-Based Power Generation (GBPG) to overcome the country's rising power demand, which particularly peaks during certain periods in summer months and also, certain periods after monsoon.

Gas-based power, with its high efficiency, flexibility, and much lower emissions, is considered well suited to meet the requirements during such high power demand periods.

Power will be supplied by Torrent Power from its DGEN, Dahej, power plant.

As per terms of the agreement between NVVN and TPL, 770 MW capacity has been contracted with a minimum of 388 MUs of guaranteed power to be supplied from March 16, 2024, to June 30, 2024.

The actual offtake of power, in addition to the minimum guaranteed, will depend on the power demand encountered during the approaching summer.

Torrent Power, the Rs 25,694 crore integrated power utility of the Rs 37,600 crore Torrent Group, is one of the largest companies in the country's power sector with presence across the entire power value chain generation, transmission and distribution.

The company has an aggregate installed generation capacity of 4,287 MW, comprising 2,730 MW of gas-based capacity, 1,195 MW of renewable capacity and 362 MW of coal-based capacity.

Further, renewable projects of 1,402 MW are under development.

The total generation capacity, including projects in advanced stages of development, is 5,689 MW.