Torrent Power on Friday announced a formal takeover of power distribution operations in the Union Territory of Dadra and Nagar Haveli and Daman and Diu.
Dadra and Nagar Haveli, Daman and Diu is the first Union Territory where power distribution network has been privatised under the Government of India’s program through a competitive bidding process.
Torrent Power will serve 1.5 lakh customers in the Union Territory through the newly formed company – Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Limited (DNHDD Power Distribution Company).
Torrent Power owns 51% stake and the administrator of the Union Territory holds the balance stake in the new entity.
DNHDD Power Distribution Company will have a customer base of 1.5 lakh, annual sales of 9 billion units of power and annual revenue of about Rs. 4,500 crores.
Torrent Power in the past has also acquired distribution network in Ahmedabad, Gandhinagar and Surat in Gujarat; Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
Varun Mehta, executive director – distribution of Torrent Power said “Over the course of the coming months, Torrent Power will strive to bring in a significantly better customer experience through improved reliability, operational efficiency and customer service. With the addition of Dadra & Nagar Haveli, Daman and Diu, Torrent Power has significantly strengthened its leadership position in the Power Distribution sector.”
With the taking over of operations in the Union Territory, Torrent Power will now have a total customer base of 3.8 million across 12 cities and annual sales of 24 billion units of power and a peak demand of 5000 MW across its licensed and franchised areas in Gujarat, Maharashtra, Uttar Pradesh and Dadra & Nagar Haveli, Daman and Diu.
Download
the App to get 14 days of unlimited access to Mint Premium absolutely free!
