Torrent Green Energy Private Limited (TGEPL), a wholly owned subsidiary of Torrent Power Limited, has incorporated Torrent Urja 37 Private Limited (TU37) with an authorised and paid-up share capital of Rs 500,000, comprising 50,000 equity shares of Rs 10 each.
TU37, in which TGEPL holds 100 per cent equity, was established to engage in the manufacturing, processing, trading, and distribution of hydrogen and its derivatives, including ammonia, compressed natural gas, and related chemicals. Additionally, the company will focus on renewable energy initiatives such as the generation, transmission, and trading of power from green, hydro, and other non-conventional sources of energy. While TU37 is yet to commence business operations and has no turnover, its incorporation does not constitute a related party transaction, as it is fully owned by TGEPL, and the process was carried out at an arm’s length basis.