The Maharashtra State Electricity Distribution Company (MSEDCL) will procure energy storage capacity of 1,500 MW from pumped hydro storage project for a period of 40 years. Increased penetration of Solar and Wind in electricity generation will create need for energy storage solutions for providing firm, reliable and dispatchable RE power. Torrent Power has identified Pumped Storage Project (PSP) sites in multiple states. The company plans to supply the storage capacity from its upcoming pumped hydro storage plant being set up in Raigad District, Maharashtra. Under the Pumped Hydro Energy Storage Facility Agreement (PHESFA), the company shall make available to MSEDCL a contracted capacity of 1,500 MW capable of scheduled discharge of 8 hours (with maximum continuous 5 hours) per day. The input energy for charging shall be provided by MSEDCL. Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution. The company's consolidated net profit jumped 87.96% to Rs 972.24 crore in Q1 FY25 as against with Rs 517.27 crore posted in Q1 FY24. Revenue from operations grew by 23.28% year on year to Rs 9,033.73 crore in the quarter ended 30 June 2024. Powered by Capital Market - Live

Torrent Power has emerged as a successful bidder and has received Letter of Intent (LOI) from Maharashtra State Electricity Distribution Co.(MSEDCL) on 17 September 2024 for procurement of 1,500 MW/ 12,000 MWh Energy Storage Capacity from Pumped Hydro Storage Project. Detailed Letter of Award will be issued by MSEDCL upon obtaining necessary approval from Maharashtra Electricity Regulatory Commission (MERC) in terms of the tender document on the quoted tariff. MSEDCL will procure energy storage capacity of 1,500 MW from pumped hydro storage project for a period of 40 years. The Company plans to supply the storage capacity from its upcoming pumped hydro storage plant being set up in Raigad District, Maharashtra. Under the Pumped Hydro Energy Storage Facility Agreement (PHESFA), the Company shall make available to MSEDCL a contracted capacity of 1,500 MW capable of scheduled discharge of 8 hours (with maximum continuous 5 hours) per day. The input energy for charging shall be provided by MSEDCL. Powered by Capital Market - Live

Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution. The company's consolidated net profit jumped 87.96% to Rs 972.24 crore in Q1 FY25 as against with Rs 517.27 crore posted in Q1 FY24. Revenue from operations grew by 23.28% year on year to Rs 9,033.73 crore in the quarter ended 30 June 2024. Powered by Capital Market - Live

Securities in F&O ban: Aarti Industries, Balrampur Chini Mills, Bandhan Bank, Birla soft, Chambal Fertilizers and Chemicals, Gujarat National Fertilizers and Chemicals (GNFC), Granules India, Hindustan Copper, LIC Housing Finance, RBL Bank. New Listing: P N Gadgil Jewellers will debut on the stock exchanges today. The IPO was open from 10 to 12 September 2024. The issue was subscribed 59.41 times. Stocks to Watch: Torrent Power entered into MoU with the government of Gujarat for execution of 5GW solar, Wind or solar wind hybrid project in Dwarka. FirstSource Solutions partnered with Microsoft for digital solutions. Carborundum Universal will acquire 100 stake in the US-based Silicon Carbide Products for Rs 56 crore. Reliance Infrastructure's board will consider fundraise on 19 September 2024. Sandur Manganese's board approved raising upto Rs 1000 crore via QIP. JK Tyre Industries approved the plan to merge Cavendish Industries with the company. HEG's Gulshan Sakhuja resigned as CFO with effect from 16 Monday 2024. Allcargo Terminals' volumes stood at 53.6'000 TEUs in August 2024, depicting a marginal decline of 1% over last month as well as previous year Powered by Capital Market - Live

Torrent Power has reaffirmed its commitment towards green and sustainable future as it submitted two Shapath Patras to the Union Ministry of New and Renewable Energy, Government of India at the 4th Edition of RE-Invest at Gandhinagar on Monday. The Company has submitted a 'Shapath Patra' to achieve 10 Gigawatt (GW) of installed Renewable Energy (RE) capacity by 2030, with an investment of Rs 57,000 crore. This investment is expected to generate direct and indirect employment for around 25,000 people. As part of these commitments, Torrent Power on Monday signed a Memorandum of Understanding (MoU) with Government of Gujarat for execution of 5 GW solar, wind or solar-wind hybrid project at Dwarka District in the State of Gujarat. For next generation energy reforms, Green Hydrogen is an important element, which is slated to play a critical role in achieving net-zero emissions and decarbonizing hard-to-abate sectors. Torrent Power is actively pursuing opportunities to develop Green Hydrogen and Green Ammonia Production projects to cater to the export and domestic markets. The second 'Shapath Patra' was submitted for setting up 1,00,000 Kilo Tonnes Per Annum (KTPA) Green Ammonia production facility with an investment of Rs 7,200 Crores and employment generation for around 1,000 people. Powered by Capital Market - Live