Torrent Power has received Letter of Award (LoA) from MP Power Management Company (MPPMCL) for long-term procurement of power from 1,600 MW new coal-based power plant. The LoA is received pursuant to the Company's participation in the competitive bidding process, conducted by MPPMCL, at a tariff of 5.829 Rs/kWh.

The Company will set up a greenfield 2x800 MW Ultra-Supercritical power plant in Madhya Pradesh on Design, Build, Finance, Own, and Operate (DBFOO) model and supply the entire capacity to MPPMCL. The requisite coal for the power plant will be arranged by MPPMCL under the SHAKTI Policy of Ministry of Coal. The Project is to be commissioned within 72 months from the date of execution of the PPA. This project entails an investment of approx. Rs 22,000 crores and will be the single largest investment by the Torrent Group in the power sector.

The project will be set up based on Ultra-Supercritical technology, which is highly efficient and results in significantly lower carbon emissions compared to conventional power plants.

The project is expected to create about 8,000 to 10,000 direct and indirect jobs during its construction and 1,500 direct and indirect jobs during its operations phase.

With the addition of this capacity, Torrent Power will have a total locked-in generation and pump storage capacity of ~9.6 GWp and 3 GW respectively; comprising of installed generation capacity of 4.9 GWp and an under-development capacity of ~3.1 GWp of renewable projects, 1.6 GW of Thermal capacity and 3 GW of pumped storage capacity.