Power Company Incorporation Of Four New Step-Down Subsidiaries Through Its Wholly-Owned Subsidiary
The stock has delivered a 20 per cent return over the past year and an impressive 200 per cent return over the past three years.
Torrent Power Limited has announced the incorporation of four new step-down subsidiaries through its wholly-owned subsidiary, Torrent Green Energy Private Limited. These new entities, named Torrent Urja 41, 44, 45, and 47 Private Limited, have been established to venture into the renewable energy sector, focusing on hydrogen and its derivatives, as well as power generation and distribution from renewable sources. The subsidiaries are set to engage in a wide array of activities, including the production, storage, and trading of hydrogen and other renewable energy forms.
This strategic move aligns with Torrent Power's ongoing commitment to expanding its renewable energy footprint, complementing its existing operations across Gujarat, Maharashtra, Uttar Pradesh, and Karnataka. As part of the Torrent Group, the company continues to strengthen its position in the power sector, leveraging its expertise in electricity generation, transmission, and distribution. This development marks another significant step in Torrent Power's journey towards sustainable energy solutions, reflecting its strategic priorities in the evolving energy landscape.
Torrent Power Ltd is a prominent integrated power utility company in India, operating in power generation, transmission, and distribution. It has a strong market presence in Gujarat and other states, serving over 4.13 million customers. The company is expanding its renewable energy capacity, with significant investments in solar and wind power projects. In FY24, Torrent Power reported a distribution loss of just 2.7 per cent in its licensed areas, showcasing its operational efficiency.
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The company is also investing heavily in renewable energy, with plans to achieve 10 GW of installed capacity by 2030, and is developing a substantial pumped hydro storage project. Additionally, Torrent Power is venturing into green hydrogen and ammonia projects, reflecting its strategic focus on sustainable energy solutions. The company’s recent acquisition activities and ambitious capex plans underscore its commitment to growth and innovation in the power sector.
Torrent Power has a market capitalization of over Rs 70,000 crores and a PE ratio of 31. The stock has delivered a 20 per cent return over the past year and an impressive 200 per cent return over the past three years.
Disclaimer: The article is for informational purposes only and not investment advice.