Torrent Power soars on power agreement with Gujarat Electricity Comm

Last week, the company said that GERC had given approval to a 278 MW power project between the company's UnoSugen Power Plant and its licensed distribution businesses of Ahmedabad, Gandhinagar & Surat

Shares of Torrent Power hit a fresh 52-week high of Rs 292, up 4 per cent intra-day on BSE, surging 21 per cent in past one week, after the company entered into a power procurement arrangement with Gujarat Electricity Regulatory Commission (GERC).
 

On Tuesday, June 25,  the company, through a regulatory filing said that GERC had given approval to a 278 megawatt (MW) power project between the company's UnoSugen Power Plant and its licensed distribution business for cities of Ahmedabad, Gandhinagar and Surat. 

“The approval, with certain stipulations, is for the balance life of the plant i.e. 19 years,” it