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Torrent Power signs MoUs with Govt. of Gujarat entailing investments of Rs 47,350 Cr

Amid the tenth edition of the Vibrant Gujarat Global Summit, Torrent Power has signed four non-binding memorandums of understanding (MoUs) with the Gujarat government with a proposed investment of Rs 47,350 crore. 

The proposed investments are planned to be made in the areas of renewable energy, green hydrogen and power distribution and are expected to contribute significantly towards the development of the State and the creation of large-scale employment opportunities.

Torrent’s Group Chairman, Samir Mehta said, “Torrent Power intends to make a significant portion of its future investments across key national priorities of renewable generation, pump storage hydro projects, green hydrogen / green ammonia production and power distribution. ”

Notably, one of the four MoUs comprises 3,450 MW of solar power projects and 1,045 MWs of hybrid power projects to be set up in the districts of Banaskantha, Jamnagar, Patan and Surendranagar entailing a proposed investment of Rs 30,650 crore.

The second MoU entails an investment of Rs 4,500 crore in the development of the infrastructure of a solar park for a 7,000-MW solar power project to be set up in Banaskantha district.

The third MoU is for setting up a green hydrogen/ green ammonia production facility with a capacity of 100 KTPA to be set up in Banaskantha/ Dahej with a total proposed investment of Rs 7,200 crore.

The fourth MoU pertains to the investment of Rs 5,000 crore in Torrent Power’s distribution business in the cities of AhmedabadGandhinagarSurat, Dahej SEZ and Mandal Becharaji SIR (MBSIR).

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