Torrent Power shares zoom 9% on securing 2,000 MW energy storage contracts from MSEDCL
[hfe_template id='11223']
[ad_1]
Shares of Torrent Power today surged 9% to its fresh 52-week high of Rs 1,983.70 on the BSE after announcing that it has signed 2 letters of award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply of 2,000 Megawatt (MW) Energy Storage Capacity.“Torrent Power Limited, one of the leading private sector integrated power utility with presence across generation, transmission and distribution and part of the Torrent Group, has received letter of award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for long-term supply of 2,000 Megawatt (MW) Energy Storage Capacity from InSTS Connected Pumped Hydro Storage Plant,” said the company in a filing to the exchanges. The 2 contracts that the company has signed with MSEDCL are for a supply of 1500 MW energy supply capacity and an additional 500 MW energy storage capacity. MSEDCL will procure energy storage capacity from Torrent Power’...