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Torrent Power Secures 450 MW of Wind-Solar Hybrid Energy in Auction

Under the terms and conditions of the contract, the project is expected to be commissioned within 24 months from the signing of the Power Purchase Agreement.

April 01, 2024. By Abha Rustagi

Gujarat-based Torrent Power has successfully clinched the bid for procuring 300 MW of power from wind-solar hybrid energy projects. The auction victory, which includes a greenshoe option of up to 150 MW from its distribution unit, was sealed with a competitive bid of INR 3.65/kWh.

Under the terms and conditions of the contract, the project is expected to be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA), with a contractual period spanning 25 years from project commissioning.

A key stipulation of the agreement mandates that the annual Capacity Utilization Factor (CUF) must not fall below 50 percent throughout the duration of the PPA. Furthermore, the ratio of wind to solar power capacity is set at 2:1 to ensure optimal efficiency and performance.

To meet the CUF requirements, Torrent Power plans to install 245 MW of wind and solar capacity, exceeding the contracted capacity of 150 MW. This move highlights the company's dedication to delivering reliable and sustainable energy solutions to meet the growing demands of consumers.

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Power purchase agreement (PPA)

PPA

Wind-Solar Hybrid power

Wind-Solar Hybrid projects

Wind Energy

Solar energy