Torrent Power Limited has entered into a share purchase agreement (SPA) and shareholders agreement (SHA) with the union territories (UTs) of Dadra and Nagar Haveli (DNH) and Daman and Diu (DD), the holding entity, and Dadra and Nagar Haveli and Daman and Diu (DNH-DD) Power Distribution Corporation Limited , a special purpose vehicle (SPV). …
The agreement is for purchase of 51 per cent equity share capital of the SPV from the holding entity. The SPV will be responsible for distribution and retail supply of electricity and holds distribution license in the UTs of DNH and DD. With this acquisition, Torrent will distribute about 24 BUs of electricity per annum to over 3.85 million customers and cater to a peak demand of over 5,000 MW.