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MUMBAI: Torrent Power Limited will set up a 300 MW capacity solar power plant in Gujarat at an estimated cost of Rs1,250 crore, the company said on Thursday.

The project, at an estimated cost of will be commissioned within 18 months from the date of execution of the power purchase arrangement. The tariff has been fixed at 2.22 per kWh for a period of 25 years.

"Torrent has till date implemented various renewable projects aggregating to around 786.5 MW (648.5 MW wind project and 138 MW solar projects). Besides these operational projects, around 515 MW renewable power projects (115 MW wind projects and 400 MW solar projects) are under implementation (including aforesaid project)," the company said in a statement.

Torrent Power is a Rs13,641 crore integrated power utility of the Rs21,500 crore Torrent Group. It ha presence across the entire power value chain – generation, transmission, and distribution.

The company has an aggregate installed generation capacity of 3,879 MW comprising 2,730 MW of gas-based capacity, 787 MW of renewable capacity, and 362 MW of coal-based capacity.

Torrent forayed into the renewable energy space with a 50 MW wind power plant in 2012.

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