Torrent Power Limited is an integrated power utility and is one of largest private sector players in India having interests in power generation, transmission, distribution and manufacturing and supply of power cables. It has a portfolio of coal based, gas based and renewable power plants with an aggregate operational generation capacity of 4,160 MW with a unique mix of coal based, gas based, and renewable power plants that use highly efficient power generation technologies. It has under-construction wind power plants aggregating to 1111 MW. It operates 249 km and 105 km 400kV double circuit transmission lines implemented by, for evacuating power generated at SUGEN (the 1147.5 MW gas based power plant near Surat in South Gujarat) and DGEN (the 1200 MW combined cycle gas based Power Plant at Dahej SEZ) plant to various off-take centres.
Torrent Power distributes power to over 3 million customers annually in its distribution areas of Ahmedabad, Gandhinagar, Surat and Dahej SEZ (Gujarat), in Bhiwandi (Maharashtra) and in Agra (Uttar Pradesh). The cables unit of the company 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.
Torrent Power Ltd was incorporated on April 29, 2004 as a Private Limited Company with the name 'Torrent Power Trading Pvt. Ltd.' In January 25, 2006, name of the company was changed to Torrent Power Private Ltd. In February 8, 2006, Company converted into Public Limited Company and the name was changed to Torrent Power Ltd.
In the year 2006, as per the Scheme of Amalgamation, Torrent Power AEC Ltd, Torrent Power SEC Ltd and Torrent Power Generation Ltd were amalgamated with the Company with effect from April 1, 2005. In July 28, 2006, the Company divested their stake partially in AEC Cements & Constructions Ltd, a non-material and non-listed subsidiary and hence AEC Cements & Constructions Ltd ceased to be a Subsidiary Company.
In October 19, 2006, Torrent Power Grid Ltd (erstwhile Torrent Power Transmission Pvt Ltd), a joint venture company with Power Grid Corporation of India Ltd became a subsidiary of the company. In December 20, 2006, the company signed a distribution franchise agreement with Maharashtra State Electricity Distribution Company Ltd for the Bhiwandi circle in Maharashtra for a period of ten years.
In January 26, 2007, the company commenced Distribution Franchise for Bhiwandi circle of Maharashtra State Electricity Distribution Company Ltd catering to 1.4 lakh customers with an unrestricted demand of about 700 MW. In May 2007, the company signed a memorandum of understanding (MoU) with Gujarat Power Corporation for setting up over 1000-MW coal based power project at Pipavav, Amreli Dist in Gujarat.
During the year 2007-08, the company added 321 Distribution Transformers of 11 kV at Ahmedabad, Gandhinagar and Surat. They also commissioned the first phase of 220 kV Transmission Lines project at Surat. In September 25, 2007, the company formed a subsidiary company, namely Torrent Pipavav Generation Ltd for the development of coal based thermal project.
During the year 2008-09, the company added 352 Distribution Transformers of 11 kv at Ahmedabad, Gandhinagar and Surat. The company's subsidiary, Torrent Power Grid Ltd, a joint venture with PGCIL, commissioned the first phase of evacuation arrangement by construction of 26 km Jhanor-Vapi LILO line. The company also installed and commissioned transmission lines to connect SUGEN plant with 220 kv Kim sub-station of GETCO.
During the year, the company was awarded the Distribution Franchise to Agra and Kanpur Distribution Circles for a period of 20 years. In September 2008, the company formed Torrent Power Bhiwandi Ltd (formerly known as Torrent Power Distribution Services Ltd) as a subsidiary company for providing infrastructural and manpower support for Bhiwandi operations of the company.
In October 2008, the company entered into a Power Purchase Agreement with Gujarat Paguthan Energy Corporation Pvt Ltd for supply of 49.6 MW wind power. Simultaneously, the company is also evaluating the establishment of their own wind and solar power generation. In March 2009, Torrent Energy Ltd became a subsidiary of the company, which is formed for setting up a 1500 MW gas based combined cycle power plant in Dahej SEZ.
The company signed Fuel Supply Agreement (FSA) with South Eastern Coalfields Ltd, a subsidiary of Coal India Ltd, for meeting requirements of their coal based generating station at Sabarmati. The FSA is effective for a period of 5 years from April 1, 2009. In May 2009, the Uttar Pradesh Power Corporation Ltd (UPPCL) has entered into an agreement with the company for power distribution in Kanpur and Agra.
During the year 2009-10, the company signed the shareholders' agreement with Gujarat Power Corporation Ltd for implementation of the 1000+ MW Coal-Based Power Project at Pipavav, Dist. Amreli, Gujarat. Torrent Power Grid Ltd, a subsidiary company commissioned the second phase of power transmission line (80 km. double circuit 400 kV transmission lines) i.e. Gandhar-Dehgam Loop in Loop out (LILO) at SUGEN to facilitate power supply from SUGEN to Ahmedabad.
In August 15, 2009, the company fully commissioned their ambitious SUGEN Mega Power Project. In September 30, 2009, the company commissioned 1147.5 MW SUGEN Mega Power Project and was dedicated to the nation. The company was awarded the distribution franchise for Agra and Kanpur distribution circles for a period of 20 years. They commenced distribution operations at Agra from April 1, 2010.Torrent Energy Limited (TEL) became the Distribution Licensee for Dahej SEZ and in April 4, 2010, they commenced the distribution of power.
During the year 2010-11, the company divested their shareholding from Torrent Power Bhiwandi Ltd (TPBL). TPBL, therefore, ceased to be a subsidiary of the company. The Company commenced distribution franchisee operations at Agra effective from April 1, 2010. The company forayed into the thrust area of renewable energy by conceptualizing the 44 MW wind power generation project. They signed an agreement with Enercon (India) Ltd to commission this project at Lalpur, District Jamnagar, Gujarat. The company signed an MoU with the Government of Uttar Pradesh for development of 1,320 MW Coal Based Power Plant at Sandila, Dist. Hardoi, Uttar Pradesh which is in its initial stage of development.
During the year 2010-11, Torrent Power Grid Limited, a subsidiary of the Torrent Power Limited, commissioned the third and final phase of 144.5 kms, 400 kV Double Circuit line, part of transmission infrastructure from SUGEN Generating Station to Pirana sub-station of PGCIL with Loop in Loop out (LILO) at 400 kV sub-station of the company at Pirana . From 1 April 2010,
Torrent Power commenced operations as distribution franchise for Agra circle, Uttar Pradesh. On 2 July 2010,Torrent Power and its subsidiary Torrent Energy Limited awarded EPC contract to Siemens for implementing UNOSUGEN (382.5 MW combined cycle gas based Power Plant at its existing SUGEN Plant's location) and DGEN (1200 MW combined cycle gas based Power Plant at Dahej SEZ) respectively. Torrent Energy Limited became the Distribution Licensee for Dahej SEZ and distribution of power commenced on 4 April 2010.
During the year 2010-11, the 382.5 MW UNOSUGEN, the brown field expansion to SUGEN Power Plant, received Mega Power Project Status from the Ministry of Power, environmental clearance from MoEF and connectivity approval from Central Transmission Utility. During the year under review, the central transmission utility granted connectivity and Long Term Open Access for 1200 MW DGEN Power Plant.
On 22 March 2012, Torrent Power successfully commissioned its first 49.6 MW Wind Power Plant at Lalpur, District Jamnagar, Gujarat. On 10 April 2012, the Ministry of Commerce & Industry granted Torrent Energy Limited the status of Co-Developer at Dahej SEZ area. On 28 November 2011, 1196.85 DGEN Power Project obtained provisional Mega Power status by Ministry of Power, Govt. of India. During the year 2011-12, Torrent Energy Limited successfully implemented the 400 kV Double Circuit Transmission line with triple snowbird conductor from DGEN Generating Station to PGCIL's Navsari Sub-station for Connectivity with the Inter-state Transmission System.
On 30 April 2013, the company successfully uprates the 110 MW coal based F station of AMGEN (the 422 MW coal based power plant) to 121 MW and synchronises the same with the grid. On 21 October 2013, the company successfully uprates the 110 MW coal based E station of AMGEN, to 121 MW and synchronises the same with the grid. During the year 2013-14, DGEN (the 1200 MW combined cycle gas based Power Plant at Dahej SEZ) and UNOSUGEN (the brown field expansion to SUGEN Power Plant) were successfully registered with United Nations Framework Convention on Climate Change under the Clean Development Mechanism. During the year under review, Torrent Power put into commercial operation the 382.5 MW UNOSUGEN Power Project.During the year 2014-15, Torrent Power successfully commissioned the 1200 MW DGEN Power Project at Dahej SEZ, District Bharuch, Gujarat. During the year under review, Torrent Power commissioned the 51 MW Solar Photovoltaic (PV) Power Plant at the Charanka Solar Park in Gujarat.
Torrent Energy Limited and Torrent Cables Limited amalgamated with Torrent Power Limited with effective date of 1 October 2015 and appointed date of 1 April 2014 pursuant to the order of the High Court of Gujarat sanctioning the Composite Scheme of Amalgamation. During the year 2015-16, Torrent Power inked an agreement for regasification and storage capacity with Petronet LNG Limited up to 1 MMTPA for 20 years starting from April 2017. During the year under review, Torrent Power successfully commissioned the 81 MW GENSU Solar Power Project adjacent to SUGEN Plant in a cost effective manner.
During the year under review, Torrent Power awarded EPC contract to Suzlon Energy Limited for implementing 201.6 MW Wind Power Project in Kutch and Bhavnagar districts in Gujarat. It also awarded EPC contract to M/s. Wind World India Ltd. for implementing 136.8 MW Wind Power Project in Rajkot and Surendranagar districts in Gujarat.
The Board of Directors of Torrent Power Limited at its meeting held on 18 May 2016 approved the draft Scheme of Arrangement between Torrent Solargen Limited (TSL) (formerly known as Torrent Power Bhiwandi Limited), the wholly owned subsidiary of the company and Torrent Power Limited (TPL). The Scheme provides for the transfer and vesting of the solar and wind energy undertakings of TSL to the TPL on a going concern basis by way of slump sale for a lumpsum cash consideration of Rs 80.63 crore with effect from the appointed date of 1 April 2015.
On 14 February 2018, Torrent Power Limited announced that the company has entered into a contract with Siemens Gamesa Renewable Power Private Limited for setting up of wind power projects upto the aggregate capacity of 120 MW. The arrangement includes acquiring of the 100% share capital of the two SPVs established for the purpose of development and implementation of the said projects at Rs 1 lakh each from Siemens Gamesa Renewable Power Private Limited.
On 7 March 2018, Torrent Power Limited announced that the company participated in the competitive bidding process, followed by the Reverse E-Auction process held on 6 March 2018 by Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) for procurement of power on long term basis from 500 MW grid connected wind power projects, and emerged as a winner in the auction for setting up of 124.4 MW project. The said capacity of 124.4 MW will be developed in the state of Maharashtra. The project shall be commissioned within 18 months from the date of execution of the PPA, as specified by MSEDCL.
On 26 September 2018, Torrent Power Limited announced that the company participated in the competitive bidding process (by way of E-reverse auction process) conducted by Solar Energy Corporation of India Ltd. (SECI) on 25 September 2018 for setting-up of 1200 MW ISTS connected wind power projects and emerged as one of the winning bidders for capacity of 115 MW project.
As of FY 2020-21, Company had executed renewable projects, aggregating to around 787 MW, spanning solar and wind energy.
During the year 2020-21, the Scheme of Arrangement was formed between the Company and TCL Cables Pvt. Ltd., a wholly owned subsidiary of the Company, for transfer and vesting of its Cables Business Undertaking on a going concern basis, with effect from the appointed date being April 01, 2020, for a cash consideration of Rs. 256.95 Crore, which was approved by the National Company Law Tribunal (NCLT), Ahmedabad Bench vide its Order dated December 17, 2020 and Scheme became operative w.e.f. January 15, 2021.
During the year 2021-22, Company acquired 51% stake in power distribution company of Dadra & Nagar Haveli and Daman & Diu Union Territory spanning an area of 603 sq. kms, which was taken over with effect from April 1, 2022. It expanded Renewable Energy portfolio (both solar and wind) by acquiring 231 MW of additional capacities, which grew to 1,018 MW and expanded reach to States like Rajasthan and Madhya Pradesh. It commissioned an additional 66 kV cable connectivity between the Puna and AK Road (K) substation and the Bhatar and Kailash Nagar (H) substation at Surat. It replaced old and obsolete networks including paper-insulated lead-covered (PILC) cable with cross-linked polyethylene (XLPE) cable, T-jointed/ LC wire network with XLPE cable network etc. It acquired three renewable projects in line to strengthen renewable business, to expand their operational renewable portfolio by 231 MW, including 156 MW of wind and 75 MW of solar.
During the year 2023, the Company added an additional 50 MW capacity, taking the total acquired capacity to 281 MW and the total operational capacity to 1,068 MW. It acquired 50 MW Solar Power Plant at Kamareddy, Telangana. It acquired 100% of the share capital and all securities of Sunshakti Solar Power Projects Private Limited (SSPPPL) and 100% Equity Share Capital of Wind Two Renergy Private Limited (WTRPL). The 27 MW Wind Power Project was commissioned on May 27, 2023.