Torrent Power Company Update- Growth Acceleration: ICICI Securities
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ICICI Securities Report
Torrent Power Ltd. has shown a marked aggression in its approach to grow in two business segments: renewables, and distribution.
Company has received LoAs for solar projects totaling 700 mega watt: 400 mega watt in Gujarat and 300 mega watt in Andhra Pradesh (currently subjudice).
In Gujarat, the company won 100 mega watt at tariff of Rs1.99/kWh in GUVNL’s auction and further 150MW at Rs 2.22/kWh (own discom, with greenshoe option for a further 150 mega watt).
It emerged as the highest bidder for Dadra & Nagar Haveli and Daman & Diu discom, bidding Rs 5.5 billion for 51% stake.
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