Monday, Oct 2 2023 | Time 12:43 Hrs(IST)
Business Economy

Torrent Power signs MoU with Maharashtra for hydro projects

New Delhi, June 6 (UNI) Torrent Power on Tuesday said that it has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for development of three pumped storage hydro projects of 5,700 MW capacity.
The projects would entail an investment of about Rs 27,000 crores and would provide employment to about 13,500 people during the construction period. Torrent intends to execute these projects over a period of five years.
As per a company statement, the proposed projects would be executed at three sites identified by it namely Karjat (3,000 MW) in Raigarh District, Maval (1,200 MW) and Junnar (1,500 MW) in Pune district.
"All the sites are off-stream and the projects are planned to provide a minimum of six hours of energy storage on a daily basis," the statement said.
Torrent Power currently has an aggregate installed generation capacity of 4.1 GW, which consists largely of clean generation sources such as gas (2.7 GW) and renewables (1.07 GW).
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