Green hydrogen breakthrough: Power company ventures into Gorakhpur with pilot project!
The company has maintained a solid dividend payout of 48.4 per cent.
Torrent Power Limited, a prominent Indian power utility company, is embarking on a groundbreaking Green Hydrogen pilot project. By blending approximately 2.5 per cent Green Hydrogen with natural gas in the city gas distribution network, Torrent Power embraces a crucial milestone in its journey towards sustainable energy solutions.
The utilization of Renewable-powered electrolysis to produce GH2 enables a gradual shift towards a greener energy mix. The ambitious Gorakhpur-based pilot project by Torrent Gas signifies a significant private sector endeavor in blending GH2 with natural gas in India.
Torrent has embarked on a transformative journey by integrating GH2 into its business and aims to become a prominent provider of comprehensive GH2 solutions to industrial and commercial sectors in India. The company also envisions the development of export-oriented green ammonia, expanding its footprint across various states.
With an installed power generation capacity of approximately 4.1 GW, Torrent Power prioritizes clean energy sources such as gas and renewables, including solar and wind power. Furthermore, the company is actively developing around 0.7 GW of renewable capacity, aligning with sustainability goals and the government's renewable energy targets. Torrent Power is also exploring innovative pathways like Pumped Hydro Storage and Green Hydrogen for a greener future.
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Torrent Power Ltd is India's leading integrated power utility firm, having operations in power generation, transmission, and distribution. It operates in the states of Gujarat, Maharashtra, Uttar Pradesh, and Karnataka. The company has maintained a solid dividend payout of 48.4 per cent.
On Tuesday, the shares of Torrent Power plunged more than 2.26 per cent. The intraday high and low are Rs 616.70 per share and Rs 588.75 per share, respectively on BSE. In the last three years, the company has generated returns of more than 80 per cent. Investors to keep close eye on this trending stock.