Torrent Power Limited has received an order for a 1,500 MW hydro pumped storage project (PSP) from Maharashtra State Electricity Distribution Corporation Limited (MSEDCL). Torrent Power has received the letter of intent (LoI) from MSEDCL and will be responsible for procuring 1500 MW/12,000 MWp of energy storage capacity from the PSP. This capacity should be made available to MSEDCL for a scheduled discharge of eight hours a day, including a maximum of continuous five hours as per the pumped hydro energy storage facility agreement (PHESFA). This agreement has been set for 40 years.
According to the tender, further details will be revealed after appropriate approvals from the Maharashtra Electricity Regulatory Commission (MERC). Torrent Power has announced its intention to install approximately 5-8 GW of PSP capacity requiring Rs 250-350 billion of investment.
Earlier this month, Torrent Power Limited signed a memorandum of understanding (MoU) with the Government of Gujarat for the development of a 5 GW solar, wind, or solar-wind hybrid project in Dwarka, Gujarat. In April 2024, by quoting Rs 3.65 per kWh, Torrent Power bagged the auction to procure power from 300 MW of wind-solar hybrid projects, with a greenshoe option of up to 150 MW from its own distribution unit, Torrent Power Distribution.
