Torrent Power Limited on Thursday said it has bagged a 300 MW wind power project worth ₹2,600 crore, to be set up in Karnataka, from Solar Energy Corporation of India Limited (SECI).
SECI has granted a Letter of award to the company for wind power project of 300 MW and confirming long-term power purchase arrangement (PPA) for the power generated from the proposed project, an exchange filing from the company said.
The agreed PPA term is 25 years from the scheduled commercial operation date (SCOD) at a tariff of ₹2.94 per kWh (kilowatt hour).
The estimated commissioning of the project is 24 months from the execution of PPA.
Currently, Torrent Power has about 804.5 Mw of wind projects and 263 Mw of solar power projects operational, while additional 415 Mw of wind power (including the latest from SECI) and 400 Mw of solar power under development.
Company's shares ended positive at ₹489.55 on Thursday, up 1.65 per cent from previous close.