Author: PPD Team Date: 24/03/2025
Torrent Green Energy Private Limited (TGEPL), a wholly owned subsidiary of Torrent Power Limited (TPL), has incorporated multiple subsidiaries to implement renewable energy projects in India.
The company recently set up eight wholly owned subsidiaries—Torrent Urja 39 Private Limited, Torrent Urja 40 Private Limited, Torrent Urja 41 Private Limited, Torrent Urja 42 Private Limited, Torrent Urja 43 Private Limited, Torrent Urja 44 Private Limited, Torrent Urja 45 Private Limited, and Torrent Urja 47 Private Limited—for various renewable energy ventures. These subsidiaries will focus on manufacturing, processing, and trading hydrogen and its derivatives, including ammonia and compressed natural gas. They will also engage in the generation, transmission, and distribution of power from renewable sources such as solar, wind, and hydro.
Additionally, Torrent Green Energy established Torrent Urja 30 Private Limited (TU30) on February 19, 2025, along with five more subsidiaries—Torrent Urja 32 Private Limited, Torrent Urja 33 Private Limited, Torrent Urja 34 Private Limited, Torrent Urja 35 Private Limited, and Torrent Urja 36 Private Limited—within the same month.
As part of its renewable energy business restructuring, Torrent Power transferred equity shares of 20 subsidiaries to Torrent Green Energy for Rs 4.24 billion. The transaction, completed on March 21, 2025, consolidates the company’s green energy assets under TGEPL.
The combined revenue of these subsidiaries in the last financial year was Rs 21.77 billion, contributing 0.80% to Torrent Power Limited’s consolidated revenue of Rs 271.83 billion. Their net worth stood at Rs 2.19 billion, making up 0.17% of the company’s consolidated net worth of Rs 125.97 billion.
The 20 subsidiaries involved in the transaction are:
- Torrent Solargen Limited
- Torrent Solar Power Private Limited
- Torrent Saurya Urja 4 Private Limited
- Torrent Saurya Urja 5 Private Limited
- Torrent Urja 7 Private Limited
- Torrent Urja 8 Private Limited
- Torrent Urja 9 Private Limited
- Torrent Urja 10 Private Limited
- Torrent Urja 11 Private Limited
- Torrent Urja 12 Private Limited
- Torrent Urja 13 Private Limited
- Torrent Urja 14 Private Limited
- Torrent Urja 15 Private Limited
- Torrent Urja 16 Private Limited
- Torrent Urja 17 Private Limited
- Torrent Urja 18 Private Limited
- Torrent Urja 19 Private Limited
- Torrent Urja 20 Private Limited
- Torrent Urja 21 Private Limited
- Torrent Urja 22 Private Limited
Since the transfer was between wholly owned subsidiaries, no separate sale agreement was executed. The deal, classified as a related-party transaction, was conducted at arm’s length. Torrent Power expects to complete the process by March 31, 2025.
This restructuring aligns with TPL’s strategy to consolidate and expand its renewable energy portfolio under TGEPL. By streamlining its operations, the company aims to strengthen its position in India’s growing green energy sector.