Torrent Power to invest Rs 1.1 trillion capex plan on renewables and storage

Torrent Power has unveiled a capital expenditure plan of Rs 1.1 trillion over the next eight years, emphasizing renewable energy and energy storage initiatives. 

More than 63% of this investment is earmarked for the renewable energy sector, underscoring the company’s dedication to India’s clean energy transition.

Vice President Jinal Mehta detailed these plans during a panel discussion at the State Bank of India’s banking conclave. He highlighted Torrent Power’s strategy to expand its renewable energy capacity to 10 GW by 2030, a significant increase from the current 1.5 GW. Additionally, the company aims to develop 5 GW of energy storage capacity within the same timeframe.

Mehta also emphasized the company’s focus on energy transition opportunities within its distribution business. This includes the implementation of smart meters and the promotion of rooftop solar installations, aligning with Torrent Power’s broader renewable energy objectives.