Torrent Power has announced the incorporation of two subsidiaries that would be engaged in the clean energy business.
In stock exchange filings, Torrent Power said that it has formed two wholly-owned subsidiaries (WOS) that will cater to the clean energy business.
The first WOS has been named “Torrent Green Hydrogen Pvt Ltd” and will be broadly engaged in clean energy activities including green hydrogen, hydropower, pumped hydropower storage, battery storage, etc.
The second entity incorporated is “Torrent PSH 3 Pvt Ltd”. This entity has been incorporated with object to carry on the business of generation, transmission, distribution, purchase, procurement, sale, trading, import, export, storage of power or otherwise deal in all forms of conventional, non-conventional, renewable, green, hydro power, or any other sources of energy or Power including electrical power and energy and pumped storage, battery storage or any other combination of storage technologies in all aspects, Torrent Power said.
Both the wholly-owned subsidiaries were incorporated on December 29, 2023 and have a paid-up equity capital of Rs.1 lakh.
Also read: Torrent Power Sees Lower Distribution Losses In FY24
