Torrent Power received LoI from PFC Consulting to lay a transmission line of approximately 44 km in Solapur, Maharashtra, connecting the existing substation of Power Grid Corporation of India with a new substation to be established by Torrent Power.
Mar 18, 2024
Gujarat-based power company Torrent Power has revealed that it has received a letter of intent (LoI) from PFC Consulting to establish an inter-state transmission scheme aimed at evacuating power from renewable energy (RE) projects in Solapur, Maharashtra.
The project, designed to handle a capacity of 1,500 MW from Solapur, entails the construction of a transmission line spanning approximately 44 kilometers. This line will connect the existing Solapur substation of the Power Grid Corporation of India (PGCIL) to a new substation to be established by Torrent Power in Solapur.
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The annual transmission charges for the project have been set at INR 50 crore. Torrent Power plans to execute the project on a build-own-operate-transfer (BOOT) basis and will operate it for a duration of 35 years. The timeline for commissioning the project is estimated to be 24 months.
It further disclosed that PFC Consulting will transfer the Special Purpose Vehicle (SPV) project to Torrent Power in due course. This transfer signifies a shift in the management of the project, consolidating Torrent Power’s position as a key player in the renewable energy sector.
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Torrent Power has an aggregate installed generation capacity of 4,287 MW, which comprises 2,730 MW of gas-based capacity, 1,195 MW of renewable capacity, and 362 MW of coal-based capacity. It has an additional 977 MW of renewable projects under development.
The company distributes nearly 28 billion units to over 4.03 million customers in multiple cities and has presence in Gujarat, Maharashtra and Uttar Pradesh, along with Union Territories.
