Torrent Power has entered into share purchase agreement for acquisition of 100% equity share capital of Solapur Transmission (SPV) from PFC Consulting today. Solapur Transmission has to establish Transmission System for Evacuation of Power from RE Projects in Solapur (1500 MW) SEZ in MaharashtraPowered by Capital Market - Live News

Torrent Power has emerged as a successful bidder and has received Letter of Award from Maharashtra State Electricity Distribution Co. (MSEDCL) on March 07, 2024 for setting up of 306 MW grid-connected Solar power project, at 48 distributed locations, across Nasik District, Maharashtra. The LOA was handed over by Hon`ble Deputy Chief Minister of Maharashtra, Shri Devendra Fadnavis. Project is conceived by MSEB Solar Agro Power Limited (MSAPL) under MSKVY 2.0 scheme for implementation of feeder level solarization under Component C of PM-KUSUM scheme connected to the distribution network. Project shall be commissioned within 18 months from the Letter of Award at an estimated cost of Rs 1,540 crore. The tariff for the project is Rs. 3.10/kWh for the period of 25 years. Powered by Capital Market - Live News

Torrent Power announced that the Board of Directors of the Company at its meeting held on 8 February 2024, inter alia, have recommended the interim dividend of Rs 12 per equity Share (i.e. 120%) , subject to the approval of the shareholders.Powered by Capital Market - Live News

Net profit of Torrent Power declined 47.44% to Rs 359.83 crore in the quarter ended December 2023 as against Rs 684.60 crore during the previous quarter ended December 2022. Sales declined 1.19% to Rs 6366.09 crore in the quarter ended December 2023 as against Rs 6442.79 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales6366.096442.79 -1 OPM %16.4022.41 - PBDT862.131299.31 -34 PBT513.35977.43 -47 NP359.83684.60 -47 Powered by Capital Market - Live News

Torrent Power announced that CRISIL has assigned the long term credit rating of proposed non-convertible debentures of amounting to ₹ 700 Crore and re-affirmed long-term Bank Loan facilities and long term outstanding non-convertible debentures as �CRISIL AA+/Stable�.CRISIL Ratings has also re-affirmed short-term Bank Loan facilities and commercial paper as �CRISIL A1+�.Powered by Capital Market - Live News