At the Madhya Pradesh Global Investors Summit (GIS) 2025 held in Bhopal on Monday, Torrent Power announced plans to invest in renewable energy and pumped storage projects within the state. The company signed a Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) to advance these initiatives.
Jigesh Mehta of Torrent Power shared, “We have signed an MoU with the MNRE to bring investments specifically in pump storage, pumped hydro storage, and renewables.” He further explained, “We are looking at developing around 1 gigawatt of solar and 1 gigawatt of wind energy. Additionally, we are particularly interested in the pumped solar sector, as Madhya Pradesh holds rich potential in these areas.”
Torrent Power already operates a plant in Pithampur, Madhya Pradesh, in the pharmaceutical sector, along with a small renewable energy capacity. However, with the state’s emerging favorable policies, the company has reassessed its approach and identified potential investment locations.
Mehta emphasized that the company had been evaluating investment opportunities in the state over the past 1.5 to 2 years, in line with the changing policy landscape.
The company is also considering investments in green ammonia and green hydrogen, though it will prioritize these areas based on demand. Mehta added, “Green hydrogen and ammonia are of interest to us, but we will focus on demand-driven investments. If companies like BPCL issue tenders for green hydrogen, we would be keen to explore that avenue.”
Torrent Power is exploring various sectors for expansion, including hybrid solar, storage-based solutions, and pumped storage. “These sectors are commercially viable and in high demand, which makes them particularly attractive to us,” Mehta stated.
While Torrent Power does not yet have a significant presence in Madhya Pradesh’s energy sector, the company aims to strengthen its footprint. “We don’t have a large presence in Madhya Pradesh’s power sector, which is one of the reasons we’re eager to enter the energy sector here. New thermal capacity is another area of interest for us,” he noted.
Regarding nuclear energy, Mehta acknowledged its potential but also pointed out that policies in this area are still developing. “Nuclear energy is still in its early stages, as government policies are still being shaped. We’ll closely monitor the policies and evaluate the sector accordingly,” he said.
Currently, Torrent Power operates a total capacity of 1.7 GW and is in the process of adding an additional 3 GW, with more than 50%—or over 2.5 GW—focused on solar energy, either already installed or under installation. “Solar energy has matured, and we continue to invest wherever new opportunities arise,” Mehta concluded.
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