Rs 27,000 crore project: This Power Generation Company signs MoU with the Government of Maharashtra for three Projects of 5,700 MW capacity!

The stock made a fresh 52-week high on Tuesday, of Rs 614.40.

On Tuesday, Torrent Power Limited informed in the exchange filing that the company has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra 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 crores and would provide employment to approx. 13,500 people during the construction period. The company intends to execute these projects over a period of 5 years.

The projects would be executed at three sites identified by Torrent namely Karjat (3,000 MW)  in Raigarh District, Maval, (1,200 MW), and Junnar (1,500 MW) in Pune District. All the sites are off-stream and the projects are planned to provide a minimum of six hours of energy storage on a daily basis.

Torrent Power Limited is a leading integrated power utility company in India with a presence across the generation, transmission, and distribution of power. Its operations are spread across the states of Gujarat, Maharashtra, Uttar Pradesh and Karnataka.

On Tuesday, the stock opened at Rs 593.95, with a high and low of Rs 614.40 and Rs 585.20. The stock closed trading at Rs 611.65, up by 3.92%. The stock has a 52-week high of Rs 614.40 and a 52-week low of Rs 430.90. The company has a market capitalisation of Rs 29,396.93 crore.

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