Gujarat-based Torrent Power to set up 1,600 MW thermal power plant in MP

“The LoA is received pursuant to the Company’s participation in the competitive bidding process, conducted by MPPMCL, at a tariff of 5.829 Rs/kWh,” said the company in a statement on Saturday.

Torrent Power said it will set up a greenfield 2×800 MW ultra-supercritical power plant in Madhya Pradesh on Design, Build, Finance, Own, and Operate (DBFOO) model and supply the entire capacity to MPPMCL. The requisite coal for the power plant will be arranged by MPPMCL under the SHAKTI Policy of the Ministry of Coal. The project is to be commissioned within 72 months from the date of execution of the Power Purchase Agreement (PPA). The project entails an investment of approximately Rs 22,000 crores, the single largest investment by the Torrent Group in the power sector.

The project will be set up based on ultra-supercritical technology, which is highly efficient and results in significantly lower carbon emissions compared to conventional power plants.

“This investment by Torrent Power will play a significant role in achieving GoI’s ambitious target of 80 GW of additional coal-based capacity by 2032 to support the country’s economic growth and for adding much-needed base load capacity to stabilise the grid,” Jinal Mehta, Vice Chairman and MD of the company, said in a statement.

The project is expected to create about 8,000 to 10,000 direct and indirect jobs during its construction and 1,500 direct and indirect jobs during its operations phase.

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