NEW DELHI: Torrent Power on Saturday announced that it has secured a Letter of Award (LoA) from MP Power Management Company Limited (MPPMCL) for power supply from its upcoming 1,600 MW coal-based plant, involving an investment of approximately Rs 22,000 crore.
The award follows Torrent Power’s participation in MPPMCL’s competitive bidding process, with the tariff set at Rs 5.829 per kWh. This project represents the single-largest investment by the Torrent Group in the power sector to date.
The company will establish a greenfield 2×800 MW Ultra-Supercritical power plant in Madhya Pradesh, supplying the entire capacity to MPPMCL. Coal for the plant will be arranged by MPPMCL under the Ministry of Coal’s SHAKTI Policy. The project is slated for commissioning within 72 months from the execution of a 25-year Power Purchase Agreement (PPA).
Jinal Mehta, Vice Chairman and Managing Director of Torrent Power, said, “This investment will contribute significantly to the Government of India’s target of adding 80 GW of coal-based capacity by 2032, supporting economic growth and providing crucial base load capacity to stabilise the grid.”
The project is expected to generate 8,000–10,000 direct and indirect jobs during construction and around 1,500 during operations. With this addition, Torrent Power’s total locked-in generation and pump storage capacity will reach 9.6 GW and 3 GW, respectively.
