Rs 25,694 crore turnover: This multibagger power generation company commissions 115 MW wind project in Gujarat!

The stock is up by 20 per cent in 1 year, 95 per cent in 3 years and over 500 per cent in just 5 years.

Torrent Power has successfully commissioned a 115 MW wind power project through its wholly owned subsidiary Torrent Solargen Limited in Devbhumi Dwarka District of Gujarat.

The Company was awarded the project through a competitive bidding process under SECI Wind Tranche V. The Company signed a Power Purchase Agreement (PPA) for a period of 25 years with SECI which has a back-to-back Power Sale Agreement (PSA) with the state of Haryana. The Wind Turbines for the project have been sourced from GE.

With the addition of 115 MW of wind power, Torrent Power’s installed renewable capacity has reached 1.18 GW, and total generation to 4.2 GW. In addition, a renewable capacity of 0.6 GW is under different stages of development. In line with its sustainability commitments and the Government’s aim to achieve 500 GW of non-fossil fuel capacity by 2030, Torrent’s growth focus in power generation remains on renewables. With a balanced Wind and solar portfolio, it is also working on other green energy pathways of pumped hydro and green hydrogen.

Previously, the company signed an MoU with the Government of Maharashtra and Torrent Power Ltd for the development of three pumped storage hydro projects of 5,700 MW capacity in the State of Maharashtra. The projects would entail an investment of about Rs 27,000 crore and would provide employment to approx. 13,500 people during the construction period. Torrent intends to execute these projects over a period of 5 years.

Torrent Power, with a turnover of Rs 25,694 Crores (approx. USD 3 billion) is the integrated power utility of the diversified Torrent Group with group revenues of Rs 37,600 crore (approx. USD 4.5 billion) and a market cap of Rs 95,000 crore (approx. USD 11.50 billion). It is one of the largest power companies in India with a presence across the entire power value chain of generation, transmission, and distribution.

On Thursday, shares of Torrent Power plunged by 1.74 per cent to Rs 614.65 per share with an intraday high of Rs 630 and an intraday low of Rs 611.

The stock is up by 20 per cent in 1 year, 95 per cent in 3 years and over 500 per cent in just 5 years. Investors should keep an eye on this multibagger Large-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.