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Torrent Power has obtained a letter of award from its 'Distribution Unit' for setting up 150 MW wind solar hybrid project with an investment of ₹1,825 crore. According to a BSE filing, the renewable energy plant will supply power at a cost of ₹3.65 per kWh.
"...the company has received Letter of Award from Torrent Power Limited-Distribution Unit for setting up of 150 MW (RE Power) Grid-Connected Wind Solar Hybrid Projects under Greenshoe option," it stated.
The project will be operated 24 months after the Power Purchase Agreement (PPA) is signed. The power supply contract will be valid for 25 years after the project is commissioned.
The annual CUF (capacity utilisation factor) will not be less than 50% in any year during the duration of the PPA, and the rated electricity capacity of wind and solar will be in the 2:1 ratio.
To meet the 50% CUF requirement, the company plans to install 245 MW of wind and solar capacity projects against a contracted capacity of 150 MW.
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