The Torrent Group has announced plans to invest Rs 1.1 lakh crore in its energy businesses over the next eight years, with a significant focus on renewable energy.

Jinal Mehta, Vice President of Torrent Power, revealed this during a panel discussion at the State Bank of India’s banking conclave. Approximately 63% of the planned capital expenditure, or Rs 70,000 crore, will be directed towards expanding its renewable energy portfolio.

“We have ambitious plans to contribute to the country’s goals around renewables and energy storage,” Mehta said. Torrent Power aims to increase its renewable energy capacity to 10 GW by 2030, up from the current 1.5 GW, alongside developing 5 GW of energy storage solutions within the same timeframe.

Torrent Power operates across the energy value chain, including thermal generation, power distribution, renewables, and storage. As of September, its installed generation capacity stood at 4,580 MW, comprising 2,730 MW of gas-based capacity, 1,488 MW of renewables, and 362 MW of coal-based capacity. With ongoing renewable projects adding another 2,979 MW, its total capacity is set to reach 7,559 MW.