Torrent Power

Last updated

Torrent Power Limited
Company type Public
ISIN INE813H01021
Industry Energy
Founded1996;28 years ago (1996)
Headquarters Ahmedabad, Gujarat, India
Key people
  • Sudhir Mehta
  • Samir Mehta
ProductsSale and distribution, electricity generation and distribution, wind power, energy trading
RevenueIncrease2.svg25,694 crore (US$3.2 billion) (2023)
Increase2.svg5,141 crore (US$640 million) (2023)
Increase2.svg2,171 crore (US$270 million) (2023)
Number of employees
7,874 (2020) [1]
Parent Torrent Group
Website www.torrentpower.com

Torrent Power is an Indian energy and power company, having interests in power generation, transmission, distribution and manufacturing and supply of power cables. [2] The company distributes power to over 38.5 lakh customers annually in its distribution areas of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera Special Investment Region in Gujarat; Dadra and Nagar Haveli and Daman and Diu UT; Bhiwandi, Shil, Mumbra and Kalwa areas of Mumbai Metropolitan Region in Maharashtra and Agra in Uttar Pradesh; [3] The T&D losses in license areas of the company is amongst the lowest in the country.

Contents

History

Torrent Group took-over and successfully turned around an ailing power cable company Mahendra Electricals, [4] renaming it as ‘Torrent Cables Ltd.’ (now merged with Torrent Power w.e.f. 1 April 2014). The high points of Torrent’s foray into power however were the acquisitions of two of the India’s oldest utilities – The Surat Electricity Company Ltd and The Ahmedabad Electricity Company Ltd. In 1997, the company completed its acquisition of the Ahmedabad Electricity Company by purchasing the entire 28.89% stake held by the Gujarat government. [5] This acquisition formed what was then known as Torrent Power AEC Limited. Similarly, after acquiring the Surat Electricity Company in the same deal, Torrent Power SEC Limited was formed. Torrent turned them into first rate power utilities, in terms of operational efficiencies and reliability of power supply.

In 2005, the parent company, Torrent Group floated the company Torrent Power Generation to further expand into the power business. In 2006, the three power-related companies of Torrent Group, Torrent Power AEC Ltd, Torrent Power SEC Ltd, and Torrent Power Generation Ltd were merged to form Torrent Power. [6] Torrent Power created history by entering into the country’s first distribution franchisee agreement with Maharashtra State Electricity Distribution Company Limited for Bhiwandi Circle in December 2006. In 2009 it was awarded the distribution franchise for Agra in Uttar Pradesh. During FY 19 the Company was awarded distribution license for Dholera Special Investment Region (in Gujarat) and distribution franchise for Shil, Mumbra & Kalwa (SMK) area in Mumbai Metropolitan Region of Maharashtra.

Operations

Torrent Power thermal power station at Sabarmati, Ahmedabad. It is one of the oldest thermal plants in India (1934) SabarmatiThermalPlant.jpg
Torrent Power thermal power station at Sabarmati, Ahmedabad. It is one of the oldest thermal plants in India (1934)

Generation

Torrent Power has an aggregate generating capacity of more than 4 GW with a unique mix of coal based, gas based, and renewable power plants comprising:

Transmission

Torrent Power operates 400 kV double circuit transmission lines implemented by it, for evacuating power generated at SUGEN and DGEN plant to various off-take centres.

Distribution

The company distributes power to over 3.85 million customers annually in its distribution areas of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat; Dadra and Nagar Haveli and Daman and Diu UT; Bhiwandi, Shil, Mumbra and Kalwa areas of Mumbai Metropolitan Region in Maharashtra; and Agra in Uttar Pradesh. The T&D losses in license areas of the company is amongst the lowest in the country. The T&D losses in Gujarat at 6.54% is amongst the lowest in the country. Torrent Power has managed reduction in AT&C losses in Bhiwandi from 58% at the time of takeover to 14.90% in FY 2018–19, and from 58.77% at the time of takeover to 16.11% in FY 2018-19 in Agra.

Cables

The Cables Unit manufactures Power & Control Cables and is one of the market leaders in HT Power Cable segment with a manufacturing capability of up to 132 kV XLPE Cables.

Related Research Articles

<span class="mw-page-title-main">Industrial park</span> Area for development of industry

An industrial park, also known as industrial estate or trading estate, is an area zoned and planned for the purpose of industrial development. An industrial park can be thought of as a more heavyweight version of a business park or office park, which has offices and light industry, rather than heavy industry. Industrial parks are notable for being relatively simple to build; they often feature speedily erected single-space steel sheds, occasionally in bright colours.

<span class="mw-page-title-main">Western Railway zone</span> One of the 18 zones of Indian Railways

The Western Railway is one of the 19 zones of Indian Railways and is among the busiest railway networks in India, headquartered at Mumbai, Maharashtra. The major railway routes of Indian Railways which come under Western Railways are: Mumbai Central–Ratlam, Mumbai Central–Ahmedabad and Palanpur–Ahmedabad. The railway system is divided into six operating divisions: Ahmedabad, Vadodara, Rajkot, Bhavnagar, Ratlam, and Mumbai WR. Vadodara railway station, being the junction point for the Ahmedabad–Mumbai route and the Mumbai–Ratlam route towards New Delhi, is the busiest junction station in Western Railways and one of the busiest junctions of Indian Railways too, while Ahmedabad Division earns highest revenue followed by Mumbai Division and Vadodara Division. Surat railway station is one of the busiest railway station in Western Railway in non-junction category where more than 180 trains pass per day.

<span class="mw-page-title-main">Tata Power</span> Indian electric utility company

Tata Power Company Limited is an Indian electric utility and electricity generation company based in Mumbai, India and is part of the Tata Group. With an installed electricity generation capacity of 14,110 MW out of which 5250 MW is from Non-Conventional(Green Energy) sources rest from thermal, making it India's largest integrated power company. In February 2017, Tata Power became the first Indian company to ship over 1 GW solar modules.

<span class="mw-page-title-main">CESC Limited</span> Electricity supply company in Kolkata, India

The Calcutta Electric Supply Corporation (CESC) is the Kolkata-based flagship company of the RP-Sanjiv Goenka Group, born from the erstwhile RPG Group, under the chairmanship of businessman Sanjiv Goenka. It is an Indian electricity generation and the sole distribution company serving 567 square kilometres (219 sq mi) of area administered by the Kolkata municipal corporation, in the city of Kolkata, as well as parts of Howrah, Hooghly, 24 Parganas (North) and 24 Parganas (South) districts in the state of West Bengal. It also serves power distribution in Kota, Bikaner and Bharatpur in Rajasthan under the name CESC RAJASTHAN. It serves 3.0 million consumers approximately, which includes domestic, industrial and commercial users.

Torrent Pharmaceuticals Ltd is an Indian multinational pharmaceutical company, part of the Torrent Group and headquartered in Ahmedabad. It was promoted by U. N. Mehta, initially as Trinity Laboratories Ltd, and was later renamed Torrent Pharmaceuticals Ltd.

Torrent Group is an Indian multinational conglomerate, based in Ahmedabad. It was founded by Uttambhai Nathalal Mehta, and now run by his sons, Sudhir and Samir Mehta. The core businesses of the group are gas, pharmaceuticals and power.

<span class="mw-page-title-main">Adani Ports & SEZ</span> Indian multinational port operator and logistics company

Adani Ports and Special Economic Zone Limited is an Indian multinational port operator and logistics company, based in Ahmedabad, India. A subsidiary of Adani Group, APSEZ is India's largest private port operator with a network of 12 ports and terminals, including India's first deep water Transshipment Port Vizhinjam International Seaport Thiruvananthapuram and India's first port-based SEZ at Mundra.

Bhiwandi is a city in the Thane district of Maharashtra, India. It is located 20 kilometres (12 mi) northeast of Mumbai, and 15 km (9.3 mi) northeast of the city of Thane. The city is a part of the Mumbai Metropolitan Region.

<span class="mw-page-title-main">GAIL</span> Central Public Sector Undertaking

GAIL (India) Limited is an Indian state-owned energy corporation with primary interests in the trade, transmission and production distribution of natural gas. GAIL also has interests in the exploration and production solar and wind power, telecom and telemetry services (GAILTEL) and electricity generation. GAIL was founded as the Gas Authority of India Ltd. in August 1984 under the Ministry of Petroleum and Natural Gas to build, operate and maintain the HVJ Gas Pipeline. On 1 February 2013, the Indian government conferred GAIL with Maharatna status along with 11 other Public Sector Undertakings (PSUs).

<span class="mw-page-title-main">Economy of Gujarat</span>

The economy of Gujarat, a state in Western India, is the most industrialised in India, having the highest industrial output of any state in the union.It has the highest exports of any Indian state, accounting for 33% of all Indian exports in 2022-23. It leads in diverse industrial sectors such as chemicals, petrochemicals, dairy, drugs and pharmaceuticals, cement and ceramics, gems and jewellery, textiles and engineering. It has the highest Electricity Production Capacity and Maritime Port Cargo Volume among all states in India. It also has significant agricultural production with major agricultural produce of the state being cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Gujarat recorded the lowest unemployment rate in India in 2022, with 4.4% of the labour force being unemployed.

<span class="mw-page-title-main">Maharashtra State Electricity Distribution Company Limited</span> Wholly owned subsidiary of the Maharashtra State Electricity Board (MSEB)

Mahavitaran or Mahadiscom or MSEDCL (Maharashtra State Electricity Distribution Company Limited) is a wholly-owned subsidiary of the Maharashtra State Electricity Board. It is the largest electricity distribution utility in India (2nd largest in the World after SGCC). MSEDCL distributes electricity to the entire state of Maharashtra except for some parts of Mumbai city where Brihanmumbai Electric Supply and Transport, Tata Power and Adani Electricity Mumbai Limited are electricity distributors.

<span class="mw-page-title-main">Maharashtra State Electricity Transmission Company</span> Subsidiary of Maharashtra State Electricity Board (MSEB)

Mahapareshan or Mahatransco is a wholly owned by government of Maharashtra and the major electricity transmission company in the state of Maharashtra, India.after 2003 it is converted to state-owned Electricity Companies.

<span class="mw-page-title-main">Dakshin Gujarat Vij Company</span>

Dakshin Gujarat Vij Company Ltd. is an electricity company that was incorporated on 15 September 2003 by Gujarat Electricity Board (GEB). The Company obtained the Certificate of the Commencement of Business on 15 October 2007. The company was one of several created as a part of efforts towards restructuring of the power sector in the state of Gujarat in India.

<span class="mw-page-title-main">Madhya Gujarat Vij</span>

Madhya Gujarat Vij Company Ltd. is an electricity company that was incorporated on 15 September 2003 by Gujarat Electricity Board (GEB). The Company obtained the Certificate of the Commencement of Business on 15 October 2003. The company was one of several created as a part of efforts towards restructuring of the power sector in the state of Gujarat in India.

<span class="mw-page-title-main">Paschim Gujarat Vij</span>

Paschim Gujarat Vij Company Ltd. is an electricity company that was incorporated on 15 September 2003 by Gujarat Electricity Board (GEB). The Company obtained the Certificate of the Commencement of Business on 15 October 2003. The company was one of several created as a part of efforts towards restructuring of the power sector in the state of Gujarat in India.

<span class="mw-page-title-main">Adani Power</span> Indian multinational Electricity company in Ahmedabad, India

Adani Power is an Indian multinational power and energy company, subsidiary of Adani Group and based in Khodiyar in Ahmedabad, India. It is a private thermal power producer, with a capacity of 15,250 MW and operates a mega solar plant of 40 MW at Naliya, Bitta, Kutch, Gujarat. Adani Godda Power is implementing a 1,600 MW plant at Jharkhand. The company has signed long term power purchase agreements of about 9,153 MW with the government of Gujarat, Maharashtra, Haryana, Rajasthan, Karnataka, and Punjab.

<span class="mw-page-title-main">Telangana State Southern Power Distribution Company Limited</span>

The Southern Power Distribution Company of Telangana, abbreviated as, TSSPDCL is a state Electricity Distribution company owned by the government of Telangana for the 15 southern districts of Telangana.

Dholera Special Investment Region (DSIR) is a greenfield industrial planned city near Dholera in Gujarat's Ahmedabad district, around 100 kilometers to the south-west. spread over more than 920 km2 it is a new industrial city being jointly developed by the Government of India and Gujarat. Dholera is strategically located, well connected with trade gateways and falls in the influence zone of proposed Delhi – Mumbai Industrial Corridor project (DMIC), a joint initiative by the Government of India and Japan.

References

  1. "Torrent Power Ltd. Financial Statements". moneycontrol.com.
  2. "Torrent Power Ltd". Business Standard India. Retrieved 25 July 2021.
  3. "Torrent Power Q1 results: Profit up 35% at Rs 374 cr". The Economic Times. Retrieved 25 July 2021.
  4. "Torrent Power puts in place succession plan". The Indian Express. 8 February 2018. Retrieved 25 July 2021.
  5. Nod for Rs 400-cr Torrent issue. Indian Express
  6. Torrent group merges power cos. Business Line