Torrent Power expects to start its distribution licencee operations in Dholera Special Investment Region (SIR) in Gujarat this year.
According to the proceedings of a recent investor conference, Torrent Power expects to start the said operations this fiscal year, most likely in the second half (October 2022 to March 2023).
Torrent Power has acquired the distribution licence in Dholera SIR, up to 2044. Spread over an area of around 920 sqkm, the Dholera special investment region — a major project on the Delhi-Mumbai Industrial Corridor (DMIC) — is envisaged as a global manufacturing hub.
Torrent Power expects to invest Rs.1,200 crore over the next ten years in the power distribution network of Dholera SIR, so as to cater to a peak demand of 425 MVA. Planning and development of an efficient distribution network is currently under progress, according to a Torrent Power presentation, and the company is waiting for demand to pick up.
Meanwhile, distribution licencee operations at Dadra & Nagar Haveli and Daman & Diu have begun. This area was taken over formally April 1, 2022, through a newly-formed company Dadra & Nagar Haveli and Daman & Diu Power Distribution Corporation Ltd. This company is a joint venture between Torrent Power (equity stake: 51 per cent) and the UT administration (49 per cent).
During Q1 of FY23 (April 1 to June 30, 2022), T&D losses in the DNH&DD area stood at 2.23 per cent. Torrent Power expects that there is scope to reduce these losses even further because the customer base is small, and dominated by industrial consumers to the extent of 90 per cent.
Torrent Power, it may be mentioned, saw a reduction in T&D losses in its franchisee areas during Q1 of FY23. According to the Torrent Power management, losses in Agra, Bhiwandi and SMK area were much lower in Q1 of FY23 than those in the same quarter of FY22. This is partly because these areas had seen higher losses in Q1 of FY22, owing to the second COVID wave.
Also Read: Torrent Power cuts T&D losses across franchised areas
Featured photograph for representation only
