Torrent Power has received the letter of intent of what the company says is the country’s first procurement of long-term pumped storage capacity.
In a release, Torrent Power said that it has emerged as a successful bidder and received the LoI from Maharashtra State Electricity Distribution Company Ltd (MSEDCL), on September 17, 2024, for procurement of 1,500 MW/ 12,000 MWh energy storage capacity from a pumped hydro storage project.
The detailed letter of award will be issued by MSEDCL upon obtaining necessary approval from Maharashtra Electricity Regulatory Commission (MERC) in terms of the tender document on the quoted tariff, Torrent Power said.
Torrent Power plans to supply the storage capacity from its upcoming pumped hydro storage plant being set up in Raigad district, Maharashtra. The input energy for charging shall be provided by MSEDCL.
Under the pumped hydro energy storage facility agreement (PHESFA), the company shall mke available to MSEDCL a contracted capacity of 1,500 MW capable of scheduled discharge of 8 hours (with maximum continuous 5 hours) per day.
Torrent Power has identified pumped storage project (PSP) sites in multiple states and has already announced its intentions of installing about 5 to 8 GW of PSP capacity entailing investment of Rs.25,000 crore to Rs.35,000 crore.
As already reported by T&D India on September 16, 2024, Torrent Power has announced its commitment of investing over Rs.64,000 crore in building capacities for green energy. To this effect, the company has submitted two promissory deeds to the Union ministry of new & renewable energy (MNRE) at the ongoing “RE-Invest” event (4th edition, Gandhinagar, Gujarat) on September 16, 2024. [Read more]
Also read: Torrent Power commits over Rs.64,000 crore investment in green energy
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