Torrent Power Limited, a leading private sector power utility in India, has received a Letter of Award (LoA) from MP Power Management Company Limited (MPPMCL) to establish a 1,600 MW coal-based thermal power project in Madhya Pradesh. This new project, set to be developed under the Design, Build, Finance, Own, and Operate (DBFOO) model, is expected to be the single largest investment by the Torrent Group in the power sector, with an estimated project cost of ₹22,000 crores.
The greenfield project will consist of two 800 MW Ultra-Supercritical units, designed to provide highly efficient energy generation while significantly reducing carbon emissions compared to traditional coal-based power plants. Torrent Power will supply the entire power output to MPPMCL under a 25-year Power Purchase Agreement (PPA) at a tariff of ₹5.829 per kWh, ensuring long-term power stability for Madhya Pradesh’s distribution companies.
Jinal Mehta, Vice Chairman and Managing Director of Torrent Power, expressed his enthusiasm for the project, noting its importance in meeting India’s growing energy demands. He highlighted that the project supports the Government of India’s goal of adding 80 GW of coal-based power capacity by 2032 to aid the country’s economic growth and provide much-needed grid stability.
The construction of the plant is expected to generate between 8,000 and 10,000 direct and indirect jobs, while the operational phase will create approximately 1,500 jobs. The project is to be commissioned within 72 months from the execution of the PPA, further boosting employment and economic opportunities in Madhya Pradesh.
With this expansion, Torrent Power’s total generation capacity will reach 9.6 GWp, including both thermal and renewable energy sources. This will be complemented by 3 GW of pumped storage capacity, significantly contributing to the country’s energy security and sustainability efforts.