Torrent Power bags 2 GW Indian pumped storage project

Torrent Power Ltd, a private-sector integrated power utility, has received a letter of award from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) for long-term supply of 2 GW energy storage capacity from its intrastate transmission system (InSTS)-connected pumped hydro storage plant. This 2 GW capacity includes 1.5 GW for which a Letter of Intent was already issued by MSEDCL. The company has now been allotted additional 500 MW capacity under the tender, taking the total capacity allocation to 2 GW.

MSEDCL will procure energy storage capacity from Torrent Power’s InSTS-connected pumped hydro storage for a period of 40 years. Torrent plans to supply the storage capacity from its upcoming InSTS-connected pumped hydro storage plant being set up in Maharashtra.

Under the energy storage facility agreement (ESFA), Torrent will make available to MSEDCL a contracted capacity of 2 GW capable of scheduled 8-hour discharge (with maximum 5 hours on a continuous basis) per day. The input energy for charging shall be provided by MSEDCL.

Torrent Power has identified pumped storage project sites in multiple states, besides Maharashtra. The company has already announced its intentions to install about 5 to 8 GW of pumped storage capacity with an investment of INR 25,000 to INR 35,000 crore. As part of its future growth strategy, the company is also working on other green energy pathways like green hydrogen and green ammonia production projects.

Torrent Power, the INR 27,183-crore integrated power utility of the Torrent Group, is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution. As on June 30, 2024, the company has an aggregate installed generation capacity of 4.4 GWp comprising 2.7 GW of gas-based capacity, 1.3 GWp of renewable capacity and 362 MW of coal-based capacity. Further, renewable projects of around 3.1 GWp are under development.

From pv magazine India