Torrent Power has received a letter of award from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for long-term supply of 2,000-MW energy storage capacity.
This capacity will be served through an upcoming pumped hydro storage plant of Torrent Power, which will be connected to the intrastate transmission system (InSTS) of Maharashtra. The supply contract will have duration of 40 years, Torrent Power said in a release.
This 2,000 MW capacity is inclusive of 1,500 MW capacity for which letter of intent was already issued by MSEDCL on September 17, 2024. Torrent Power has now received allotment of additional 500 MW capacity under the tender taking the total capacity allocated to 2,000 MW.
Under the Energy Storage Facility Agreement (ESFA), Torrent Power shall make available to MSEDCL a contracted capacity of 2,000 MW capable of scheduled discharge of 8 hours (with maximum continuous 5 hours) per day. The input energy for charging shall be provided by MSEDCL.
Considering the growing need for energy storage solutions with increased penetration of solar and wind electricity generation capacities, Torrent Power Limited stands committed to providing firm, reliable and dispatchable renewable energy power. As part of this, Torrent Power has identified Pumped Storage Project (PSP) sites in multiple states, besides Maharashtra. The Company has already announced its intentions to install about 5 GW to 8 GW of PSP capacity entailing investment of Rs.25,000 crore to Rs.35,000 crore, the release said.
As reported by T&D India, on September 16, 2024, Torrent Power announced its commitment of investing over Rs.64,000 crore in building capacities for green energy.
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