Torrent Power, known for its involvement in power generation, transmission, and distribution, has announced plans to construct solar projects with a capacity of 50 MW to supply clean energy to ARS Steel & Alloy International (ARS). According to Torrent Power, ARS will hold a minimum of 26% equity shares in Torrent Urja 14 (TU14), a subsidiary tasked with implementing these solar projects.
The Subscription and Shareholders' Agreement (SSSA), recently signed among Torrent Power, ARS, and TU14, outlines the terms for supplying power through the development of solar power generating projects in Tamil Nadu. Under the agreement, ARS will receive power via open access from TU14's projects to its production facilities.
Torrent Power's diversification also extends to manufacturing and supplying power cables. The company's commitment to sustainable energy solutions is underscored by its initiative to expand solar power infrastructure, enhancing ARS's access to clean electricity.
