Power Utility Company Secures Rs 2,650 Crore Wind Project Deal, Eyes 10 GW Renewable Goal by 2030
Over the past year, the stock has delivered a negative return of -12.74 per cent, but a strong 3-year return of 206.49 per cent.
Torrent Power Limited has made headlines with its latest achievement in the renewable energy sector. Its wholly-owned subsidiary, Torrent Green Energy Private Limited, has secured two Letters of Award (LoAs) from the Solar Energy Corporation of India Ltd. (SECI). These awards are for setting up 300 MW ISTS-connected wind power projects under the Wind Tranche-XVIII initiative. With an estimated project cost of Rs 2,650 crore, the wind installations are slated for completion within 24 months from the signing of the Power Purchase Agreement (PPA). The projects will be operational for a period of 25 years, with a fixed tariff of Rs 3.97 per kWh for the electricity generated.
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This development is a significant stride in Torrent Power’s strategy to expand its renewable energy portfolio. The company aims to scale its green capacity to 10 GW by 2030, aligning with national clean energy targets. It is also involved in other landmark projects, including a 5 GW solar-wind hybrid project in Gujarat and a Green Hydrogen and Ammonia Project.
As of June 12, 2025, Torrent Power’s stock was trading at Rs 1,399.45. The share has a 52-week high of Rs 1,972.70 and a 52-week low of Rs 1,235.65. Over the past year, the stock has delivered a negative return of -12.74 per cent, but a strong 3-year return of 206.49 per cent. The company’s Price-Earnings (PE) ratio stands at 23.63. Torrent Power currently has a market capitalisation of Rs 72,262 crore. Among institutional investors, Gujarat State Financial Services Ltd holds a 2.36 per cent stake.
Torrent Power Ltd operates as a Large-Cap integrated power utility in India, with business segments spanning generation, transmission, and distribution. Transmission and Distribution (T&D) contribute 89 per cent of the company’s business, followed by thermal power at 8 per cent and renewable energy at 3 per cent. It serves over 4.13 million customers across Gujarat, Maharashtra, Uttar Pradesh, and Karnataka. The company maintains a low distribution loss of 2.7 per cent and ensures power availability of more than 99 per cent. Despite recent margin pressures from new acquisitions, the firm continues to pursue growth through innovation and sustainable energy ventures.
Disclaimer: The article is for informational purposes only and not investment advice.