Torrent Power on Saturday announced that it has received a Letter of Award (LoA) from MP Power Management Company Ltd (MPPMCL) for the supply of power from its upcoming 1,600 MW coal-based power plant in Madhya Pradesh.
The LoA, awarded through a competitive bidding process, finalised the tariff at ₹5.829 per kWh, the company said in a statement.
Largest-Ever Investment by Torrent Group
The ₹22,000 crore greenfield project will be the Torrent Group’s single-largest investment in the power sector. The company plans to set up a 2×800 MW Ultra-Supercritical power plant in Madhya Pradesh, with coal supplied under the Ministry of Coal’s SHAKTI Policy. The entire capacity will be supplied to MPPMCL.
The plant is expected to be commissioned within 72 months of signing a 25-year Power Purchase Agreement (PPA).
Boost to Capacity and Jobs
According to Jinal Mehta, Vice Chairman and Managing Director of Torrent Power, the project will contribute significantly to India’s target of adding 80 GW of coal-based capacity by 2032, while also ensuring grid stability.
The project is expected to generate 8,000–10,000 direct and indirect jobs during construction and about 1,500 jobs during operations.
With this addition, Torrent Power’s locked-in generation capacity will increase to 9.6 GWp, along with 3 GW of pump storage capacity.
