India Explores Battery Storage for Thermal Plants Amidst Renewable Energy Surge
In Ahmedabad, Torrent Power is set to make one of its most aggressive clean energy commitments yet, planning to invest nearly ₹50,000 crore over the next three to four years. This substantial capital outlay aims to rapidly scale up its renewable energy (RE) capacity and significantly strengthen its power network across various geographies. The homegrown power major has set an ambitious target of achieving 10 GW of renewable capacity by 2030, marking a considerable leap from its current 1.75 GW operational portfolio, underscoring its pivotal role in India’s green energy transition.
Gujarat-headquartered, Torrent Power’s ₹50,000 crore capital expenditure will be strategically distributed across three core verticals. Approximately ₹20,000 crore is earmarked to fuel the company’s renewable energy ambitions. A further ₹14,000 crore will be allocated towards developing pumped storage hydro projects, aiming for a cumulative capacity of 3,000 MW. The remaining ₹16,000 crore is designated for the expansion and upgrading of its transmission and distribution (T&D) network, which also includes pursuing new privatization opportunities within the power sector.
For the fiscal year 2026 alone, Torrent Power has lined up a significant capital expenditure of around ₹5,700 crore specifically for its renewable energy projects. This includes an estimated ₹2,500 crore for solar initiatives and ₹4,500 crore for wind projects. The company is also making a substantial bet on hybrid projects, with ₹13,000 crore slated over the broader investment cycle for this segment. In the T&D sector, the company plans to inject approximately ₹1,300 crore to bolster its transmission network during FY26, alongside an additional ₹2,000 to ₹2,500 crore for expanding and upgrading its distribution business.
Execution of key renewable energy projects is already in motion, with the company expecting to commission nearly 900 MW of renewable capacity in FY26 alone. This includes 370 MW of solar, 300 MW of wind, and about 250 MW of hybrid projects. With 3.1 GW of projects currently under construction, Torrent Power’s total renewable energy portfolio, encompassing both operational and pipeline assets, now stands at nearly 4.9 GW. The company maintains a healthy 70:30 debt-to-equity ratio for new projects, further supported by a recently concluded ₹3,500 crore Qualified Institutional Placement.
Across India, Torrent Power’s ambitious investment reflects a strategic pivot towards a greener energy future and a strengthened power grid. This substantial commitment positions the company as a key player in the nation’s clean energy transition, contributing significantly to national renewable energy targets and enhancing overall energy security and reliability.
