"Torrent Power Secures LoA from Maharashtra State Electricity Distribution Company"

Torrent Power Ltd has been awarded a letter of award from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for a long-term supply of 2,000 Megawatts (MW) of energy storage capacity from its InSTS Connected Pumped Hydro Storage Plant. The company announced the news in a release on Tuesday.

This 2,000 MW capacity includes 1,500 MW for which a Letter of Intent was previously issued by MSEDCL on September 17. With the recent allotment of an additional 500 MW, Torrent Power's total capacity allocation now stands at 2,000 MW.

Under the agreement, MSEDCL will procure this energy storage capacity from Torrent Power’s InSTS Connected Pumped Hydro Storage for a period of 40 years. The company plans to supply the storage capacity from its upcoming pumped hydro storage plant being established in Maharashtra. According to the Energy Storage Facility Agreement (ESFA), Torrent Power will provide MSEDCL with a contracted capacity of 2,000 MW, capable of scheduled discharge for 8 hours each day, with a maximum continuous discharge of 5 hours. MSEDCL will supply the input energy needed for charging.

With the increasing demand for energy storage solutions to accommodate the growing use of solar and wind energy, Torrent Power is committed to delivering reliable and dispatchable renewable energy. The company has identified potential Pumped Storage Project (PSP) sites in multiple states, in addition to Maharashtra, and aims to install approximately 5 to 8 GW of PSP capacity, with an estimated investment of ₹25,000 to ₹35,000 crore.

HBL