Torrent Power Limited’s shares were up by 7.67 per cent after the company inked four non-binding Memorandums of Understanding (MoUs) with the Gujarat government during the 10th edition of Vibrant Gujarat Global Summit.

The MoUs, signed with Gujarat Energy Development Agency (GEDA), outline proposed investments totalling ₹47,350 crore (approximately $5.70 billion). These investments are earmarked for renewable energy, green hydrogen, and power distribution, aiming to significantly contribute to the state’s development and create substantial employment opportunities.

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Torrent Group Chairman, Samir Mehta, said, “Torrent Group is committed to contribute towards nation-building by aligning our plans with the national priorities in the sectors where we are present. In line with this philosophy, Torrent Power intends to make a significant portion of its future investments across key national priorities of renewable generation, pump storage hydro projects, green hydrogen / green ammonia production and power distribution. It is a matter of great pride for the Torrent Group to be associated with the Vibrant Gujarat Global Summit since its first edition and contribute towards the development of the State.”

The shares were up by 7.67 per cent to ₹1,016.50 at 2.55 pm on the BSE.