Latest news with #TorrentPower
Time of India
3 days ago
- Business
- Time of India
Adani and Torrent eye electricity supply licences in Mumbai Metropolitan Region, gear up to compete with state power utility MSEDCL
Mumbai: The monopoly of state power utility MSEDCL in Mulund-Bhandup, Thane, Navi Mumbai, Kalyan, Vasai, and other parts of the Mumbai Metropolitan Region (MMR) faces potential competition. Tired of too many ads? go ad free now Besides Tata Power's recent parallel distribution licence application, both Adani Electricity Navi Mumbai Ltd (AENML) and Torrent Power await a public hearing at MERC on July 22 for licence requests in the MMR. AENML, a subsidiary of Adani Energy Solutions, aims to distribute power in Mulund, Bhandup, Thane, Navi Mumbai, Panvel, Kharghar, Taloja, and Uran. They propose a Rs 5,700-crore investment to establish their distribution network within five years. Torrent Power's distribution plans encompass Vasai-Virar and vicinity, civic areas of Kalyan-Dombivli, Ulhasnagar, Thane (excluding distribution franchisee areas), and Ambernath, as well as Palghar. Tata Power's recent MERC application seeks a parallel distribution licence for Mulund-Bhandup, parts of Kanjur-Powai, Thane, Navi Mumbai Municipal Corporation, Panvel City Municipal Corporation (PCMC), the PCMC-JNPA corridor, and Pune region, including Pune City, Haveli, Maval, Mulshi, and Khed talukas. It also filed separate applications for a parallel licence in Chhatrapati Sambhaji Nagar, Badnapur, Jalna, Waluj MIDC, Nashik, Sinnar, Igatpuri, and Trimbak talukas. AENML projects serving five lakh new consumers, while Torrent Power targets six lakh electricity users across MMR within five years, sources said. Experts said that while this could comprise new consumers, one cannot rule out the possibility of a section of existing 'subsidising' consumers migrating to private players if the latter gets a licence in the coming months. Tired of too many ads? go ad free now A power expert said these 'subsidising' consumers included those from industry and commercial categories as well as residential users whose monthly consumption was above 300 units. "The subsidised consumers in lower categories may stay with MSEDCL, but the subsidising consumers in the high-end categories may have an option to switch if there is a competitive tariff," he pointed out. Power expert Ashok Pendse said there were three key factors that constituted consumer expectations. "First, the tariff should be competitive or lower than the existing power utility. Second, unlike the periodic maintenance shutdowns or power cuts by MSEDCL, if the private players assure reliable 24x7 electricity supply, they could woo more consumers. The third and most important factor would be the customer care centres and the service provided to consumers — both online and offline," he added. In the past, MSEDCL workers' unions went on strike to oppose the entry of the Adani Group. Sources in the power industry said the possibility of opposition from activists and union workers in the coming weeks against the "attempt for privatisation" cannot be ruled out. Torrent Power Ltd supplies to more than 40 lakh consumers in Ahmedabad, Gandhinagar, Surat, and Dahe SEZ in Gujarat and in Bhiwandi, Shil, Mumbra, and Kalwa in Maharashtra and Agra in Uttar Pradesh, among other areas in the country. Mumbai: The monopoly of state power utility MSEDCL in Mulund-Bhandup, Thane, Navi Mumbai, Kalyan, Vasai, and other parts of the Mumbai Metropolitan Region (MMR) faces potential competition. Besides Tata Power's recent parallel distribution licence application, both Adani Electricity Navi Mumbai Ltd (AENML) and Torrent Power await a public hearing at MERC on July 22 for licence requests in the MMR. AENML, a subsidiary of Adani Energy Solutions, aims to distribute power in Mulund, Bhandup, Thane, Navi Mumbai, Panvel, Kharghar, Taloja, and Uran. They propose a Rs 5,700-crore investment to establish their distribution network within five years. Torrent Power's distribution plans encompass Vasai-Virar and vicinity, civic areas of Kalyan-Dombivli, Ulhasnagar, Thane (excluding distribution franchisee areas), and Ambernath, as well as Palghar. Tata Power's recent MERC application seeks a parallel distribution licence for Mulund-Bhandup, parts of Kanjur-Powai, Thane, Navi Mumbai Municipal Corporation, Panvel City Municipal Corporation (PCMC), the PCMC-JNPA corridor, and Pune region, including Pune City, Haveli, Maval, Mulshi, and Khed talukas. It also filed separate applications for a parallel licence in Chhatrapati Sambhaji Nagar, Badnapur, Jalna, Waluj MIDC, Nashik, Sinnar, Igatpuri, and Trimbak talukas. AENML projects serving five lakh new consumers, while Torrent Power targets six lakh electricity users across MMR within five years, sources said. Experts said that while this could comprise new consumers, one cannot rule out the possibility of a section of existing 'subsidising' consumers migrating to private players if the latter gets a licence in the coming months. A power expert said these 'subsidising' consumers included those from industry and commercial categories as well as residential users whose monthly consumption was above 300 units. "The subsidised consumers in lower categories may stay with MSEDCL, but the subsidising consumers in the high-end categories may have an option to switch if there is a competitive tariff," he pointed out. Power expert Ashok Pendse said there were three key factors that constituted consumer expectations. "First, the tariff should be competitive or lower than the existing power utility. Second, unlike the periodic maintenance shutdowns or power cuts by MSEDCL, if the private players assure reliable 24x7 electricity supply, they could woo more consumers. The third and most important factor would be the customer care centres and the service provided to consumers — both online and offline," he added. In the past, MSEDCL workers' unions went on strike to oppose the entry of the Adani Group. Sources in the power industry said the possibility of opposition from activists and union workers in the coming weeks against the "attempt for privatisation" cannot be ruled out. Torrent Power Ltd supplies to more than 40 lakh consumers in Ahmedabad, Gandhinagar, Surat, and Dahe SEZ in Gujarat and in Bhiwandi, Shil, Mumbra, and Kalwa in Maharashtra and Agra in Uttar Pradesh, among other areas in the country.
Business Standard
13-06-2025
- Business
- Business Standard
Torrent Power's arm wins 300 MW wind project from SECI under wind tranche-XVIII
Torrent Power said that its wholly owned subsidiary, Torrent Green Energy has been awarded a 300 MW wind power project by Solar Energy Corporation of India (SECI) under the Wind Tranche-XVIII. The company emerged as the successful bidder through a competitive bidding process and received the letter of award (LoA) on 11 June 2025. The project, to be developed at a tariff of Rs 3.97 per unit, is expected to be commissioned within 24 months from the date of signing the power purchase agreement (PPA). The estimated investment for the project stands at approximately Rs 2,650 crore. Torrent Power has strategically positioned renewables as a key growth driver. With this project, the companys renewable capacity under development rises to 3.3 GWp. Aligned with its sustainability goals and the Government of Indias target of achieving 500 GW of non-fossil fuel capacity by 2030, Torrent is steadily expanding its green energy portfolio. Alongside a balanced mix of wind and solar assets, the company is also actively exploring emerging green energy avenues such as pumped hydro and green hydrogen. Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution. The company reported consolidated net profit of Rs 1,059.57 crore in Q4 FY25 zoomed 146.27% as against Rs 430.24 crore in Q4 FY24. Revenue from operations fell 1.10% year on year to Rs 6,456.34 crore in the quarter ended 31 March 2025. Shares of Torrent Power rose 0.58% to Rs 1,407.55 om the BSE.
Business Standard
13-06-2025
- Business
- Business Standard
Torrent Green Energy receives LoAs for 300 MW ISTS connected Wind Power Projects
Under SECI -Tranche -XVIII Torrent Green Energy, wholly owned subsidiary of Torrent Power, has received two Letters of Award from Solar Energy Corporation of India (SECI) on 11 June 2025 for setting up of 300 MW ISTS connected Wind power projects under Wind Tranche-XVIII. The approx. project cost is Rs 2,650 crore.
Mint
13-06-2025
- Business
- Mint
Torrent Power share price gains despite stock market crash, led by a large order win
Stock Market Today: Torrent Power share prices gained in the morning trades on Friday despite stock market crash, led by a large order win. Torrent power announced receiving order for setting up of Wind power project, boosting its renewable portfolio. Torrent Power on Thursday, post market hours, informed the investors through its release on the exchanges about the order win pertaining to wind power project. Torrent power in its media release on the National Stock Exchange of India and the BSE or the Bombay Stock Exchange intimated about the receipt of letters of award for Torrent Green Energy Private Limited, a wholly owned subsidiary of the Company. The Letter of award has been received from Solar Energy Corporation of India (SECI) on June 11, 2025 as per Torrent Power Media release. The Letter of award is for setting up of 300 MW ISTS connected Wind power projects under Wind Tranche-XVIII, which will be disseminated shortly. ISTS refers to an Inter-State Transmission System. On June 11, 2025, a wholly owned subsidiary of Torrent Power Limited, Torrent Green Energy Pvt Ltd was awarded a Letter of Award by the Solar Energy Corporation of India (SECI) for the setting up of a 300 MW wind power project under Wind Tranche-XVIII after winning a competitive bidding process. With a tariff of ₹ 3.97 per unit, the project is expected to come on stream and get commissioned in the next 24 months after the Power purchase agreement or the PPA is executed. The estimated investment stands at ₹ 2,650 crore on the project. Renewable energy has been a strategic focus area for Torrent Power and a growth driver. As per Torrent power, with this project, Torrent's renewable capacity under development increases to 3.3 GWp. Torrent Power share price opened at ₹ 1399.45 on the BSE. The Torrent Power share price that saw a flt opening on Friday compared to the previous days closing price however gained ₹ 1419 levels during the intraday trades, marking gains of close to 1.5% on a day when stock market crashed and the Sensex was down more than 1%. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
News18
13-06-2025
- Business
- News18
Stocks To Watch: Torrent Power, Asian Paints, ICICI Bank, HCL Tech, NTPC, And Others
Last Updated: Stocks to watch: Shares of firms like Torrent Power, Asian Paints, ICICI Bank, HCL Tech, NTPC, and others will be in focus on Friday's trade Stocks to Watch on June 13: Indian markets closed lower on the weekly expiry day, slipping more than 1% after a brief period of consolidation. On June 13, several stocks are expected to be in focus based on key corporate developments and market movements. Torrent Power Ahmedabad-based Torrent Power announced that its wholly owned subsidiary, Torrent Green Energy, has secured a 300 MW wind power project from the Solar Energy Corporation of India (SECI). ICICI Bank ICICI Bank stated that the Reserve Bank of India (RBI) has approved the reappointment of Rakesh Jha as the bank's Executive Director for a term of two years, starting September 2, 2025. Asian Paints Around 3.5 crore equity shares of Asian Paints, held by Reliance Industries Ltd (RIL) through Siddhant Commercials Ltd, were sold at a price of Rs 2,201 per share. After this sale, Siddhant Commercials retains 87 lakh shares in the company. DCM Shriram DCM Shriram informed that its board has approved the 100% acquisition of Hindusthan Specialty Chemicals, a strategic move to expand its specialty chemicals portfolio. HCL Technologies has been selected as a key strategic engineering services partner by Swedish luxury carmaker Volvo Cars, strengthening its global automotive service portfolio. NTPC NTPC Ltd reported that Unit-3 (660 MW) of its Barh Super Thermal Power Project (Stage-1) has successfully completed its trial run, a step closer to full operational status. Canara Bank The board of Canara Bank has approved a capital raising plan of up to Rs 9,500 crore through bonds during the financial year 2025–26. CSB Bank CSB Bank announced that the RBI has approved the reappointment of Pralay Mondal as Managing Director and CEO for another three-year term, starting from September 15, 2025. Capri Global Capital Capri Global Capital, a non-banking financial company, said it has raised Rs 2,000 crore through a Qualified Institutions Placement (QIP), strengthening its financial position and enabling future growth. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published: June 13, 2025, 08:34 IST
