Torrent Power announces Rs 500 billion investment

Torrent Power Limited has announced a capital investment plan of Rs 500 billion over the next three to four years. The funds will be used to expand its renewable energy portfolio and strengthen transmission and distribution networks.

The company aims to increase its renewable energy capacity to 10 GW by 2030, up from 1.75 GW currently. Out of the total planned investment, Rs 200 billion will be directed towards renewable energy projects. An additional Rs 140 billion will support the development of 3,000 MW of pumped storage hydro capacity. The remaining Rs 160 billion is earmarked for transmission and distribution infrastructure. Torrent Power is also evaluating new opportunities in power distribution privatisation.

For the quarter ended 30 June 2025, the company reported a decline in financial performance. Revenue from operations stood at Rs 7,906 crore, down from Rs 9,034 crore in the same quarter last year. EBITDA fell to Rs 1,588 crore from Rs 1,934 crore, while total comprehensive income dropped to Rs 739 crore from Rs 993 crore.

The company stated that the quarter was impacted by reduced power demand due to the early onset of monsoon and elevated gas prices, which affected merchant gains from gas-based generation. However, gains in solar capacity and better wind conditions improved performance in the renewable segment. The distribution business also saw improved profitability when adjusted for one-time tariff income recorded in the previous year.

Torrent Power operates an installed generation capacity of 4,881 MW, comprising 2,730 MW of gas-based, 1,789 MW of renewable, and 362 MW of coal-based capacity. Projects under development include 3 GW of renewable capacity and 3 GW of pumped storage hydro, bringing its future portfolio to around 8 GW.

The company distributes approximately 31 billion units annually to over 4.2 million customers across Gujarat, Maharashtra, Uttar Pradesh, and the Union Territories of Dadra and Nagar Haveli and Daman and Diu. It maintains some of the lowest distribution losses and highest reliability indices in its licensed areas in Gujarat.