Torrent Power plans Rs 50,000 crore investment in renewable energy capacity expansion

AHMEDABAD: In one of its most aggressive bets yet on clean energy, Ahmedabad-headquartered Torrent Power plans to invest nearly Rs 50,000 crore over the next three to four years, as the company races to scale up its renewable energy (RE) capacity and strengthen its power network across geographies.

The homegrown power major is targeting 10 GW of renewable capacity by 2030 - a significant leap from its current 1.75 GW operational portfolio.Company officials said the Rs 50,000-crore capex war chest will be split across three key verticals: approximately Rs 20,000 crore will power the company's RE ambitions, Rs 14,000 crore will go into pumped storage hydro projects with a cumulative 3,000 MW capacity, and the remaining Rs 16,000 crore is earmarked for expanding its transmission and distribution (T&D) network, including tapping new privatisation opportunities.

The company is not leaving its plans for a long-term horizon. In FY 2026 alone, Torrent Power has lined up a capex of around Rs 5,700 crore for RE projects, officials told TOI. Solar projects will attract Rs 2,500 crore, wind Rs 4,500 crore, while hybrid projects,- where the company is betting big - are slated to draw Rs 13,000 crore over the broader investment cycle."In the T&D segment, Torrent plans to pump in around Rs 1,300 crore to bolster its transmission network during FY26, alongside Rs 2,000 to Rs 2,500 crore earmarked for expanding and upgrading its distribution business," a company spokesperson said.

Execution of key RE projects on ground is already in motion. "We expect to commission nearly 900 MW of renewable capacity in FY26 alone, including 370 MW of solar, 300 MW of wind and around 250 MW of hybrid projects," the spokesperson further added.With 3.1 GW of projects currently under construction, the company's total RE portfolio, both operational and in the pipeline, is now at nearly 4.9 GW.Torrent maintains a 70:30 debt-to-equity ratio for new projects. Its recently concluded Rs 3,500-crore QIP has fortified its financial base, with its net debt to EBITDA ratio at a comfortable 1.41 as of March 2025 - among the lowest in the Indian power sector.