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Torrent Plans Rs 26,500-cr Investment in MP for Pump Storage

Indian multinational conglomerate Torrent Group has planned an investment of Rs 26,500 crore in Madhya Pradesh to develop pump storage capacity. Torrent Power signed a memorandum of understanding (MoU) with the state's renewable energy department for this initiative.

"We have signed a MoU with the MP govt to set up a 2.2 GW pump storage capacity and another 2 GW of renewable capacity comprising solar and wind. In MP we are looking at the energy sector as the state has excellent potential. The topography in MP helps in developing pump storage sites," Director, Generation, Torrent Power Jigish Mehta said. In addition to its focus on renewable energy, Torrent Group is also considering investments in thermal energy in Madhya Pradesh.

Torrent Power currently operates 4.2 GW of capacity, with 1.7 GW in renewables. The company is developing an additional three GW, with power purchase agreements (PPAs) finalised in Gujarat, Maharashtra, and Karnataka. It is also constructing a pump storage plant in Maharashtra. The Group also has a presence in pharmaceuticals and city gas distribution, with a pharmaceutical manufacturing plant at Pithampur in Dhar district.

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