Torrent Power has bagged a wind-solar hybrid project. According to an exchange filing made on Thursday (March 28) after market hours, the company said that it received a letter of award from its 'Distribution Unit' for setting up a 150MW wind-solar hybrid project with an investment of Rs 1,825 crore.

The project is slated to be operational within 24 months from the signing of the Power Purchase Agreement (PPA), with a contractual supply of power spanning 25 years from the project's commissioning.

Notably, the annual capacity utilization factor (CUF) is stipulated to be no less than 50% throughout the PPA term, with the wind and solar capacities maintained at a 2:1 ratio.

In order to meet the 50% CUF requirement, Torrent Power intends to install 245 MW of wind and solar capacity projects, surpassing the contracted capacity of 150 MW, as outlined in the company's regulatory filing.