Torrent Power Limited
TypePublic
ISININE813H01021
IndustryEnergy
Founded1996; 25 years ago (1996)
HeadquartersAhmedabad, Gujarat, India
Key people
  • Sudhir Mehta
  • Samir Mehta
ProductsSale and distribution, electricity generation and distribution, wind power, energy trading
RevenueIncrease 12,172 crore (US$1.6 billion) (2021[1]
Increase 1,429 crore (US$190 million) (2020)[1]
Increase 1,295 crore (US$170 million) (2021)[1]
Total assetsIncrease 20,972 crore (US$2.8 billion) (2021)[1]
Total equityIncrease 8,672 crore (US$1.2 billion) (2020)[1]
Number of employees
7,874 (2020)[1]
ParentTorrent Group
Websitewww.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 3.65 million customers annually in its distribution areas of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat; 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.

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)
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 3879 MW 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 3.65 million customers annually in its distribution areas of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat; 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.

References

  1. ^ a b c d e f "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