Torrent Power Ltd on Tuesday (October 8) said it has received a letter of award from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for a long-term supply of 2,000 Megawatt (MW) Energy Storage Capacity from InSTS Connected Pumped Hydro Storage Plant.

This 2,000 MW capacity includes 1,500 MW, for which MSEDCL has already issued a letter of intent on September 17, 2024. The company has now received an allotment of an additional 500 MW capacity under the tender, taking the total capacity allocated to 2,000 MW.

MSEDCL will procure energy storage capacity from Torrent Power’s InSTS Connected Pumped Hydro Storage for 40 years. The company plans to supply the storage capacity from its upcoming InSTS Connected Pumped Hydro Storage Pumped hydro storage plant in Maharashtra.

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Under the Energy Storage Facility Agreement (ESFA), the company shall make available to MSEDCL a contracted capacity of 2,000 MW capable of scheduled discharge of 8 hours (with a maximum continuous 5 hours) per day. MSEDCL shall provide the input energy for charging.

As of June 30, 2024, Torrent Power has an aggregate installed generation capacity of 4.4 GWp comprising 2.7 GW of gas-based capacity, 1.3 GWp of renewable capacity and 362 MW of coal-based capacity. Further, Renewable projects of 3.1 GWp are under development.

Shares of Torrent Power Ltd ended at ₹1,817.15, up by ₹17.15, or 0.95% on the BSE.

Also Read: Torrent Power to develop 1,500 MW hydro storage project in Maharashtra