Torrent Power

Torrent Power Limited (BSE: 532779, NSE: TORNTPOWR) is an India-based company engaged in the electricity generation, transmission and distribution. Its current operations are in the states of Gujarat , Maharashtra and Uttar Pradesh. The company is the sole distributor of electricity to consumers in the cities of Agra, Ahmedabad, Bhiwandi, SMK-Shil,Mumbra,Kalwa Gandhinagar, Kanpur, Surat.

Torrent Power Limited
TypePublic
BSE: 532779
NSE: TORNTPOWR
IndustryEnergy
Founded1996
HeadquartersAhmedabad, India
Key people
Sudhir Mehta, Samir Mehta
ProductsSale and distribution, electricity generation and distribution, wind power, energy trading
Revenue ₹13,818 crore (US$1.9 billion) (2020)[1]
₹1,429 crore (US$200 million) (2020)[1]
₹1,178 crore (US$170 million) (2020)[1]
Total assets ₹23,623 crore (US$3.3 billion) (2020)[1]
Total equity ₹8,672 crore (US$1.2 billion) (2020)[1]
Number of employees
7,874 (2020)[1]
ParentTorrent Group
Websitetorrentpower.com

History

In 1997, the company completed its acquisition of the Ahmedabad Electricity Company by purchasing the entire 28.89% stake held by the Gujarat government.[2] 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.

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.[3]

More recently, in 2009, Torrent Power inked a deal with Uttar Pradesh Power Corporation Limited to franchisee to supply power to parts of Kanpur and Agra then handled by The Kanpur Electricity Supply Company Ltd. (KESCo) and the Agra Circle of Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL) for 20 years.[4]

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

With ventures in power generation, transmission and distribution.

Generation

Torrent Power has an aggregate generating capacity of 3191.6 MW comprising:

  • 1530 MW SUGEN gas based mega combined cycle power plant near Surat
  • 1200 MW DGEN Mega Power Project
  • 362 MW coal based Sabarmati Thermal Power Station at Sabarmati, Ahmedabad
  • 50 MW solar plant at Charanka
  • 49.6 MW wind farm at Jamnagar

Transmission

Torrent Power has set up a 400 kV transmission system for evacuating power generated at its SUGEN plant to the various off take centers. The project being implemented in a phased manner is nearing completion and is expected was functional during FY 2010-11.

Distribution

Torrent Power transmits and distributes more than 13 billion units of power to almost 3 million customers in the cities of Ahmedabad, Gandhinagar, Surat and Bhiwandi,Agra spanning an area of 408 km2. and franchise area of 721 km2. These cities are major industrial and commercial hubs.

The T&D losses in Gujarat at 6.54% is amongst the lowest in the country. A testimony of Torrent Power’s operational efficiency is the drastic reduction in T&D losses in Bhiwandi from 48% in January 2007 to the present 19.33%.

T&D loss in Feb-17 approx 15℅

Further info

Torrent Power is one of the leading brands in the Indian power sector, promoted by the USD 2.8 billion Torrent Group – a healthcare and power group.

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.

Torrent has a generation capacity of 3334 MW and distributes power to more almost 3 million customers annually in Ahmedabad, Gandhinagar, Surat, Bhiwandi, Kanpur, and Agra.[5]

Distribution Franchise business is one area which Torrent Power has been aggressively pursuing as part of its expansion plans. 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. It has also been awarded the distribution franchise for Agra in Uttar Pradesh and has already commenced distribution operations in Agra.

References
  1. "Torrent Power Ltd. Financial Statements". moneycontrol.com.
  2. Nod for Rs 400-cr Torrent issue. Indian Express
  3. Torrent group merges power cos. Business Line
  4. Torrent Power signs distribution franchisee agreement for Kanpur and Agra
  5. www.naukri.com. "Torrent Power Careers - Jobs in Torrent Power - Naukri.com". www.naukri.com. Retrieved 21 August 2016.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.