Torrent to purchase ReNew's clean energy projects for $1.2 billion

04 Jan 2023 CW Team

As part of its capital recycling strategy, ReNew plans to sell this operating clean energy capacity and use the money to develop new clean energy assets. 1.068 GW of Torrent Power's total 4.16 GW generation capacity is made up of renewable energy sources. The Torrent Group company is also building a 715 MW capacity for renewable energy. In order to purchase a 50 MW solar power plant in Maharashtra, Torrent Power and Lightsource Renewable Energy previously entered into an agreement. Around 3.94 million additional consumers in Dadra and Nagar Haveli, Daman and Diu, Ahmedabad, Gandhinagar, Surat, Dholera Special Investment Region, Dahej Special Economic Zone, Bhiwandi, Shil, Mumbra, Kalwa, and Agra are served by Torrent Power.

ReNew Power is one of the pioneers of India's green economy. The company now has a portfolio of 13.4 GW, with 7.7 GW of that capacity commissioned. Recently, it joined forces with KLP, Norway's largest pension business, and Norfund, the country's state-owned investment fund, to co-invest in transmission projects. A USD 8 billion green hydrogen plant will be built in the Suez Canal Economic Zone thanks to a partnership with Elsewedy Electric SAE and ReNew Energy Global Plc's subsidiary ReNew Power Pvt. Ltd.

To expand its business, Torrent Power is not opposed to taking an inorganic path. As part of the privatisation process for the electricity distribution companies in the union territories, it had submitted the highest bid for buying the company's operations in Dadra and Nagar Haveli and Daman and Diu. Eminent Electricity Distribution Ltd, a division of Kolkata-based RP-Sanjiv Goenka Group company, CESC Ltd placed the highest bid in Torrent Power's attempt to purchase the Chandigarh discom.

Ahmedabad-based Torrent Power has submitted a non-binding offer (NBO) for ReNew's 350 MW and 750 MW of solar and wind power assets at an equity value of about USD 450 million, with discussions on valuation still ongoing. Torrent Power has been involved in green energy deals and was previously in the running to acquire Vector Green Energy, an Indian clean energy platform owned by US private equity firm Global Infrastructure Partners (GIP), which was ultimately acquired by Singapore's Sembcorp Industries Ltd.As part of its capital recycling strategy, ReNew plans to sell this operating clean energy capacity and use the money to develop new clean energy assets. 1.068 GW of Torrent Power's total 4.16 GW generation capacity is made up of renewable energy sources. The Torrent Group company is also building a 715 MW capacity for renewable energy. In order to purchase a 50 MW solar power plant in Maharashtra, Torrent Power and Lightsource Renewable Energy previously entered into an agreement. Around 3.94 million additional consumers in Dadra and Nagar Haveli, Daman and Diu, Ahmedabad, Gandhinagar, Surat, Dholera Special Investment Region, Dahej Special Economic Zone, Bhiwandi, Shil, Mumbra, Kalwa, and Agra are served by Torrent Power.ReNew Power is one of the pioneers of India's green economy. The company now has a portfolio of 13.4 GW, with 7.7 GW of that capacity commissioned. Recently, it joined forces with KLP, Norway's largest pension business, and Norfund, the country's state-owned investment fund, to co-invest in transmission projects. A USD 8 billion green hydrogen plant will be built in the Suez Canal Economic Zone thanks to a partnership with Elsewedy Electric SAE and ReNew Energy Global Plc's subsidiary ReNew Power Pvt. Ltd.To expand its business, Torrent Power is not opposed to taking an inorganic path. As part of the privatisation process for the electricity distribution companies in the union territories, it had submitted the highest bid for buying the company's operations in Dadra and Nagar Haveli and Daman and Diu. Eminent Electricity Distribution Ltd, a division of Kolkata-based RP-Sanjiv Goenka Group company, CESC Ltd placed the highest bid in Torrent Power's attempt to purchase the Chandigarh discom.

Infrastructure Transport

30 May 2026

Chembur Metro to Boost East Mumbai Links

MMRDA is advancing eastern Mumbai’s urban mobility network, with the upcoming Chembur Metro Station set to emerge as a key interchange and the Mumbai Monorail preparing for relaunch.Dr Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, conducted a site visit to Chembur Metro Station along with Kanhuraj Bagate, Managing Director, MMMOCL. He also visited the nearby VN Purav Monorail Station to review system preparedness and ease of interconnectivity.Once operational, the interchange is expected to offer commuters across the eastern suburbs quicker access, smoother transfers and seamless conne..

Equipment

30 May 2026

Herrenknecht TBMs Drive Thane–Borivali Tunnel Progress

Herrenknecht India has supplied two of the four tunnel boring machines (TBMs) required for the 11-km Thane–Borivali Twin Tunnel Project being developed by the Mumbai Metropolitan Region Development Authority (MMRDA). The project is expected to reduce travel time between Thane and Borivali from 60–90 minutes to around 15 minutes while easing congestion across the Mumbai Metropolitan Region.The first two Single Shield TBMs, named Nayak and Arjuna, feature 13.34-m cutterhead diameters and are designed for hard-rock excavation. They will be deployed to tunnel through the challenging geological..

Resources

29 May 2026

KBL Launches Smart Skid Mounted Fire Pump Set

Kirloskar Brothers (KBL) has launched its Smart Skid Mounted Fire Pump Set, an integrated fire protection solution designed to improve operational efficiency, remote monitoring and installation flexibility. The system was inaugurated by Ms Madhuritai Misal, Hon. Minister of State for Urban Development, Government of Maharashtra.The Smart Skid Mounted Fire Pump Set is a factory-tested, pre-packaged solution that combines FM/UL-certified motor and engine pump sets with IoT-enabled remote monitoring. Designed to deliver a flow rate of 170 m³/hr at a head of 100 metres, the system aims to provide..