Torrent Power Ltd (TPL), part of the Rs 18,600-crore Torrent Group, will invest nearly Rs 6,000 crore on setting up a 1,200 MW gas-based power plant at Dahej, Bharuch district, to meet the requirements of the upcoming Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIR).
ONGC Petro-additions Ltd (OPaL), incorporated in 2006 as a joint venture promoted by ONGC (26 per cent) and co-promoted by GAIL (19 per cent) and Gujarat State Petroleum Corporation Ltd (5 per cent), is the anchor tenant in setting up the Dahej Special Economic Zone (SEZ) as part of the PCPIR.TPL, the designated co-developer of the Dahej SEZ for power generation and distribution infrastructure, has set up Torrent Energy Ltd (TEL), a wholly-owned subsidiary, for the gas-based combined cycle power project at Dahej, sources told Business Line.
TEL has invited bids for engineering, procurement and construction on a turnkey basis for implementing the combined cycle power plant, work on which is expected to begin in four months.
For supply of 200 MW of power requirement, OPaL has signed an MoU with TEL, which will market the remaining power to other customers in the PCPIR.
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