Torrent Power signs 4 MoUs with Government of Gujarat entailing investments of Rs 47,350 crores

Ahmedabad: Torrent Power Limited, the integrated power utility of the diversified Torrent Group, has signed four non-binding Memorandums of Understanding (MoUs) with the Government of Gujarat under the 10th edition of Vibrant Gujarat Global Summit. The MoUs were signed between Torrent Power and Gujarat Energy Development Agency (GEDA) in Gandhinagar today. Through the four MoUs, Torrent Power has proposed total investments of Rs 47,350 crores (approx USD 5.70 billion). 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 creation of large-scale employment opportunities.

“Torrent Group is committed to contribute towards nation-building by aligning our plans with the national priorities in the sectors where we are present. In line with this philosophy, 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 ” Torrent Group Chairman Samir Mehta said.

He further added that, “It is a matter of great pride for the Torrent Group to be associated with the Vibrant Gujarat Global Summit since its first edition and contribute towards the development of the State.”