New Delhi, Apr 1 (PTI) Torrent Power on Friday announced the takeover of the power distribution operations in Union territory Dadra & Nagar Haveli and Daman & Diu.
The assets were privatised under the government’s ambitious programme to privatise the distribution network in Union territories through a competitive bidding process, Torrent Power said in a statement.
“Torrent Power announces formal takeover of the power distribution operations in Dadra and Nagar Haveli, Daman and Diu. 1.5 lakh customers will now be served by the newly formed Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Limited (DNHDD Power Distribution Company) where Torrent will own a 51 per cent stake and administrator of the UT balance 49 per cent,” the statement added.
DNHDD Power Distribution Company will have a customer base of 1.5 lakh with annual sales of 9 billion units of power, and annual revenue of about Rs 4,500 crore, it noted.
With the takeover of the said operations, Torrent Power said, it will now have a total customer base of 3.8 million across 12 cities and annual sales of 24 billion units of power.
The company would be meeting a peak demand of 5,000 MW across its licensed and franchised areas in Gujarat, Maharashtra, Uttar Pradesh and Dadra and Nagar Haveli, Daman and Diu.
Earlier, the company had acquired and turned around power distribution assets in cities like Ahmedabad, Gandhinagar and Surat in Gujarat, Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
“We are pleased to have the opportunity to serve the people of Dadra & Nagar Haveli, Daman and Diu and to bring to them the high standards of reliability and service that Torrent Power stands for. 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,” Varun Mehta, Executive Director – Distribution of Torrent Power, said. PTI ABI ABI BAL BAL
