HomeRenewable energy ›Torrent Power Undertakes 50 MW Solar Project for ARS Steels in Tamil Nadu

Torrent Power Undertakes 50 MW Solar Project for ARS Steels in Tamil Nadu

Torrent Power launches a 50 MW solar project to supply ARS Steels in Tamil Nadu, boosting renewable energy efforts.

July 11, 2024. By News Bureau

Torrent Power's subsidiary, Torrent Urja 14 (TU14), has undertaken a substantial initiative to bolster renewable energy supply by developing solar projects up to 50 MW for ARS Steels and Alloy International (ARS) in Tamil Nadu.

To this end, Torrent Power, ARS, and TU14 have signed the subscription and shareholders’ agreement, recently. Under the agreement, TU14 will construct and operate solar power projects capable of generating up to 50 MWp of clean energy. This power will be supplied through open access from TU14’s solar installations directly to ARS’s production units.Moreover, ARS will also acquire an equity stake in TU14 as part of the collaborative effort.

Torrent Power’s recent achievements in the renewable energy sector shows its commitment to green initiatives. It should be noted that,earlier this year, the company secured a significant bid to supply power from 300 MW of wind-solar hybrid projects, quoting a competitive rate of INR 3.65 per kWh. 

This auction, inclusive of a greenshoe option for an additional 150 MW, was facilitated through Torrent Power Distribution.

Furthermore, in March 2024, the company issued a letter of intent, in collaboration with PFC Consulting, to develop an inter-state transmission system (ISTS) in Solapur, Maharashtra. This initiative aims to facilitate the evacuation of power from Torrent Power’s substantial 1,500 MW clean energy projects located in the region.

As per the firm, by leveraging partnerships and investing in robust infrastructure, Torrent Power continues to pave the way for sustainable energy solutions in the country's evolving energy landscape.
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