Torrent Power bags contract to supply 100 MW to REMCL

Torrent Power Ltd has emerged as the successful bidder and has received Letter of Award from Railway Energy Management Company Ltd (REMCL) for setting up of grid-connected renewable power projects, with or without storage, for supply of 100 MW Round-The-Clock power, the company said in a statement. Project shall be commissioned within 24 months from the signing of the Power Purchase Agreement. 

• Also read: Torrent Power signs MoUs with Gujarat government, shares surge

The project cost is approximately ₹2,700 crore for installing about 325 MW of renewable capacity for supply of 100 MW RE-RTC power. 

The tender requires to maintain minimum annual Capacity Utilisation Factor of 75 per cent in the first 3 years and 85 per cent from 4th year onwards. The tariff for the project is ₹4.25 / Kwh for the period of 25 years. The LoA was granted on February 29, the release added.

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