Torrent Power has received a Letter of Award (LoA) from the Railway Energy Management Company (REMCL) for a grid-connected round the clock renewable power project. The project shall be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA), Torrent Power said in a statement.

The project cost is approximately Rs 2,700 crore for installing about 325 MW of renewable capacity for supply of 100 MW RE-RTC powers. The tender requires maintaining minimum annual capacity utilisation factor of 75 per cent in the first 3 years and 85 per cent from fourth year onwards.

The 325 MW of renewable capacity includes wind, solar, and battery storage, the company said. The project has been secured at tariff of Rs 4.25/Kwh for a period of 25 years.