Torrent Power on Saturday, August 30, announced that it secured a Letter of Award (LoA) from MP Power Management Company Ltd (MPPMCL) to develop a 1,600 MW coal-based power plant in Madhya Pradesh. The 22,000 INR-Crore facility will be a greenfield 2×800 MW project. Later, it will be an ultra-supercritical plant built under the design, build, finance, own and operate model.
Torrent Power will supply the full capacity to MPPMCL under a 25-year power purchase agreement at a tariff of 5.829 INR-Crore per unit. The project will be commissioned within 72 months after signing the agreement. Meanwhile, Coal for the plant will be provided by MPPMCL through allocation under the Central Government’s SHAKTI policy.
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Furthermore, this project by Torrent Power in MP will contribute significantly to the Central Government’s target of adding 80 GW of new coal-based capacity by 2032. During construction, the project will create 8,000 to 10,000 direct and indirect jobs. With this development, the company’s portfolio will grow to 9.6 GW of locked-in generation and storage capacity. This will include 4.9 GW of installed generation, 3.1 GW of renewable projects under progress, 1.6 GW of thermal capacity, and 3 GW of pumped storage.
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