Torrent Power wins Rs 22,000 crore project for 1,600 MW coal plant in Madhya Pradesh

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Torrent Power on Saturday announced it has secured a Letter of Award (LoA) from MP Power Management Company Ltd (MPPMCL) for the supply of power from its planned 1,600 MW coal-based power plant in Madhya Pradesh.

The LoA was received after a competitive bidding process conducted by MPPMCL, with the tariff finalised at Rs 5.829 per kWh, the company said in a statement.

The project, involving an investment of around Rs 22,000 crore, will be the single-largest investment by the Torrent Group in the power sector.

Torrent Power will set up a greenfield 2x800 MW Ultra-Supercritical power plant in Madhya Pradesh, and the entire capacity will be supplied to MPPMCL. Coal for the plant will be provided by MPPMCL under the Ministry of Coal’s SHAKTI Policy.

The plant is expected to be commissioned within 72 months of signing a 25-year Power Purchase Agreement (PPA).

Jinal Mehta, Vice Chairman and Managing Director of Torrent Power, said the project would play a “significant role” in meeting the government’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 around 1,500 jobs during operations.

With this addition, Torrent Power’s total locked-in generation capacity will rise to 9.6 GWp, alongside 3 GW of pump storage capacity.