The Indian power utility Torrent Power has signed four memoranda of understanding (MoU) with the state government of Gujarat, in which the company plans to invest INR473.5bn (US$5.7bn) to develop renewables, green hydrogen and power distribution in the state of Gujarat. The first MoU plans for the development of 3,450 MW of solar projects and 1,045 MW of hybrid power projects in the districts of Banaskantha, Jamnagar, Patan and Surendranagar, for a total of INR306.5bn (US$3.7bn).
The second MoU calls for the development of the infrastructure required for a 7 GW solar power complex in Banaskantha district (INR45bn, US$540m), while the third agreement plans for the development of a 100 kt/year green hydrogen and green ammonia project in Banaskantha and Dahej (INR72bn, US$865m)). In the fourth MoU, Torrent Power has agreed to invest INR50bn (US$600m) in its distribution business in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Mandal Becharaji SIR.
Torrent Power currently has 1,195 MW of operational renewable capacity in India and is developing a further 953 MW.