Latest news with #TPL
Time of India
6 days ago
- Business
- Time of India
Industrialists Back Torrent Power's Bid For Licence; MSEDCL, Unions Raise Red Flags
Nagpur: Torrent Power Ltd's (TPL) proposal for a parallel power distribution licence in parts of Maharashtra has sparked a heated debate, with industrialists backing the move while MSEDCL and workers' unions strongly opposing it. The Maharashtra Electricity Regulatory Commission (MERC) held an e-public hearing on Tuesday, which saw sharp divisions among stakeholders. TPL sought a distribution licence for areas under Nagpur Municipal Corporation (NMC) and the adjoining regions of Kamptee, Hingna, Mouda, and Kalmeshwar, along with parts of Pune, Mumbai suburbs, and Thane-Palghar. The online public hearing on Tuesday was for all these areas together. While the majority of attendees, including MSEDCL officials and union leaders, voiced their opposition, power sector expert RB Goenka and several industries in Nagpur region came out in favour of the application. "There is a need for a parallel distribution licensee to develop competition in the power sector and to break the monopolistic nature of business of MSEDCL," said Goenka. Quoting the Electricity Act, he added, "The commission shall grant the licence for distribution of electricity without prejudice to the other conditions or requirements under this Act, comply with the additional requirements (including the capital adequacy, credit-worthiness, or code of conduct) as may be prescribed by the central govt, and no such applicant who complies with all the requirements for grant of licence, shall be refused grant of licence on the ground that there already exists a licensee in the same area for the same purpose. " MSEDCL, however, strongly opposed the move, raising concerns about the financial and operational impact of granting a parallel licence. The utility cited several grounds, including the risk of stranded power purchase agreements, distortion of cross-subsidy mechanisms, competitive imbalance, and redundancy of existing infrastructure. "Considering the current demand and projected demand until 2035, MSEDCL entered into long-term power purchase agreements. If existing consumers are allowed to switch to another provider, the fixed cost burden will increase on the remaining consumers. This would jeopardise MSEDCL's financial stability," the state discom stated. Advocate Deepa Chavhan, representing TPL, dismissed MSEDCL's arguments, adding that the Electricity Act, 2003, already opened the sector to competition, and discoms like MSEDCL had 22 years to prepare. She also cited a Supreme Court ruling that held that licences could not be denied to new entrants solely because their presence would cause financial loss to the incumbent utility. Prayas Energy Group's (PEG) representative Shantanu Dixit said the current petition failed to address key risks. "Parallel licensee petitions do not address the risks of cherry-picking high-value customers, network duplication, and power procurement planning inherent in the proposed approach," he said. Given the long-term impact on Maharashtra's power sector, PEG recommended that any new licences should be subject to clear commitments on meeting Universal Service Obligations (USO) within 5–7 years. "The Commission should establish comprehensive operational frameworks as detailed in Section 3 of this submission," PEG added. MERC is expected to review all stakeholder submissions before arriving at a decision that could potentially reshape the power distribution landscape in the state. Currently, parallel licensees are operating in Mumbai and other suburbs, and their power tariffs are very low compared to MSEDCL. Box POWER-FUL ARGUMENTS Torrent Power applied for power distribution licences in Nagpur, Pune, Mumbai suburbs, and Thane-Palghar RB Goenka, backed by six industries association, supported it, saying it would end MSEDCL's monopoly Goenka said law allows a new licence if all conditions are met MSEDCL and unions opposed licence, citing financial and operational risks MSEDCL said cost burden would rise on remaining users if TPL allowed to operate TPL lawyer said parallel licence should be issued if all criteria are met under 2003 Act Prayas Energy Group (PEG) warned of cherry-picking high-value customers and network duplication PEG suggested licences must include 5–7 year service obligation plans
News18
7 days ago
- Business
- News18
Sania Mirza Named Brand Ambassador For Gurgaon Grand Slammers In TPL Expansion
Last Updated: Gurgaon Grand Slammers join Tennis Premier League's seventh season, acquired by Hygiia Ventures. Sania Mirza is the brand ambassador. Co-founders welcome the new franchise. Gurgaon Grand Slammers have joined the Tennis Premier League as the newest franchise ahead of its seventh season. Hygiia Ventures, a Canadian-backed investment firm founded by entrepreneur Gaurav Agarwal, has secured ownership of the Gurgaon franchise. The legendary tennis icon Sania Mirza has been appointed as their brand ambassador. 'Sports have always held a special place in my heart, not just as a father to a passionate young tennis player but also as someone who admires the discipline it brings. Acquiring a team in the Tennis Premier League is a meaningful way for us to support emerging Indian talent while expanding our investments into sports and franchise management," Agarwal stated. Sania added, 'I'm thrilled to be associated with a team that values both talent and innovation. Gaurav's vision aligns perfectly with what Indian tennis needs – structured, long-term investment. I'm looking forward to supporting the Gurgaon Grand Slammers this season." TPL is the fourth Indian sports league to successfully enter its seventh season, joining an elite group of long-running sporting leagues in India. Known for its fast-paced, viewer-friendly format and a mix of international stars and emerging Indian players, the league continues to attract top investors and global attention. Gurgaon Grand Slammers marks another international investment into the TPL ecosystem. Welcoming the new franchise, Kunal Thakkur, co-founder of TPL, said, 'Season 7 is a milestone for us, and the addition of Gurgaon Grand Slammers strengthens the league further. With Gaurav's business expertise and Sania's tennis legacy, this team is set to make an impact." TPL co-founder Mrunal Jain added, 'Hygiia Ventures coming on board shows how the league is growing as an attractive investment platform. It's another big step forward for Indian tennis and TPL, and we can't wait to see the Grand Slammers in action this season." With IANS Inputs view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
7 days ago
- Business
- India.com
Indian tennis legend Sania Mirza makes BIG move, will be seen in role as…
Sania Mirza has joined as brand ambassador of TPL team. (Photo: Instagram) Sania Mirza announced her retirement from professional tennis back in 2023. She is a former world No. 1 doubles player and won six Major titles in her illustrious career – three in women's doubles and three in mixed doubles. Sania, who is 38 years of age now, will be seen in a new role now. Hygiia Ventures, a Canadian-backed investment firm founded by entrepreneur Gaurav Agarwal, has acquired the Gurgaon Grand Slammers franchise in the Tennis Premier League (TPL) ahead of their seventh season. Indian tennis icon Sania Mirza will be their brand ambassador. TPL is the 4th Indian sports league to successfully enter their seventh season, joining an elite group of long-running sporting leagues in India. Known for its fast-paced, viewer-friendly format and a mix of international stars and emerging Indian players, the league continues to attract top investors and global attention. Gurgaon Grand Slammers marks another international investment into the TPL ecosystem. Gaurav Agarwal, whose ventures span digital research, consumer intelligence, and global investments across 80+ companies, sees this move as a natural step. 'Sports have always held a special place in my heart, not just as a father to a passionate young tennis player but also as someone who admires the discipline it brings. Acquiring a team in the Tennis Premier League is a meaningful way for us to support emerging Indian talent while expanding our investments into sports and franchise management.' Why did Sania Mirza join as brand ambassador? Sania Mirza is running successful tennis academies in Dubai and Hyderabad after her retirement from professional tennis. She has reported net worth of over Rs 216 crore with majority of her income coming from brand endorsements, real estate investments and incomes from her tennis academy. 'I'm thrilled to be associated with a team that values both talent and innovation. Gaurav's vision aligns perfectly with what Indian tennis needs—structured, long- term investment. I'm looking forward to supporting the Gurgaon Grand Slammers this season,' Sania Mirza. Welcoming the new franchise, Kunal Thakkur, Co-Founder of TPL, said, 'Season 7 is a milestone for us, and the addition of Gurgaon Grand Slammers strengthens the league further. With Gaurav's business expertise and Sania's tennis legacy, this team is set to make an impact.' The Gurgaon Grand Slammers will make their debut in Season 7 of the Tennis Premier League, further expanding the league's footprint and global appeal. Sania Mirza got divorce from husband Shoaib Malik in 2024 A year after her retirement, Sania Mirza got divorce from her husband and former Pakistan cricketer Shoaib Malik in 2024. Sania shuttles her time between Dubai and Hyderabad to take care of her son Izhaan Mirza Malik. Shoaib Malik has married for the third time to Pakistan TV actress Sana Javed.
Time of India
03-08-2025
- Business
- Time of India
Torrent Power plans Rs3,110cr investment in Nagpur, promises lower tariff & reliable supply
1 2 Nagpur: Torrent Power Limited (TPL) has submitted a comprehensive business plan seeking a power distribution licence for the city and its surrounding areas. The plan aims to modernise infrastructure, improve services and offer a power tariff lower than that of the Maharashtra State Electricity Distribution Company Ltd (MSEDCL). The public hearing on granting a distribution licence to TPL is scheduled for Tuesday. As part of its proposal, TPL has committed to investing Rs3,110 crore over five years to create a state-of-the-art power distribution network that covers both the Nagpur Municipal Corporation (NMC) area and adjacent rural parts. These areas come under divisions such as Civil Lines, Congress Nagar, Gandhibaugh, and Mahal under NMC, and MIDC, Mouda, and Umred under rural areas. The company has assured that even the lowest-consumption consumers will be catered to, fulfilling the Universal Service Obligation (USO). According to the plan which The Times Of India has accessed, TPL aims to offer electricity at a 5-7% discount as compared to the existing tariffs of MSEDCL. This pricing strategy, combined with the promise of an uninterrupted, reliable power supply, is expected to be a game-changer for consumers across categories — residential, commercial and industrial. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo Power expert and former MSEB independent director, RB Goenka, said that having a parallel licensee would give much-needed competition to MSEDCL. "However, there are many queries which I would raise in the upcoming public hearing. The tariffs would be decided by the Maharashtra Electricity Regulatory Commission (MERC), but the TPL should not link it with MSEDCL's tariff as the latter also has to accommodate agricultural consumers and has to increase tariffs regularly. So, TPL must come up with its own tariff," said Goenka. Besides Goenka, several power experts have long demanded the need for a parallel licensee to end the monopoly of MSEDCL, which currently charges one of the highest power tariffs in the country. As per TPL, Nagpur currently faces a peak demand of over 1,000 MW, with residential users forming 86% of the consumer base. However, commercial and industrial users account for more than half of the power consumed. Torrent estimates that this demand will grow by 25% over the next five years. Annual electricity sales, which currently stand at 33 million units, are projected to touch 1,280 million units by the fifth year. To meet this demand, the company plans to lay a robust power infrastructure with underground cabling in city areas and a hybrid network in rural parts. TPL claimed that it will have a 100% underground network in urban areas, and a mix of 30% underground and 70% overhead in rural parts. Smart metering, SCADA automation, and GIS-based tracking are some of the advanced technologies the company plans to implement. While the company expects initial losses, with negative profit after tax figures in the first four years, TPL forecasts a turnaround by Year 5 with a net profit of Rs10 crore. High capital expenditure, improved operational efficiencies, and reduced distribution losses — from 6.65% in the first year to 6.2% in the fifth — are expected to drive this recovery. On the customer service front, TPL has promised 24x7 helplines, digital service centres branded as "Plug Points," mobile-based complaint resolution, and hassle-free online application systems for new connections and billing. The proposal is currently under review by MERC. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Globe and Mail
10-07-2025
- Business
- Globe and Mail
Texas Pacific Land Corporation Sets Dates for Second Quarter 2025 Earnings Release and Conference Call
Texas Pacific Land Corporation (NYSE: TPL) (the 'Company') announced today that the Company will release second quarter 2025 financial results after the market closes on Wednesday, August 6, 2025. A conference call will be held on Thursday, August 7, 2025 at 10:30 a.m. Eastern Time. Webcast: A webcast of the conference call will be available on the Investors section of the Company's website at To listen to the live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register and install any necessary audio software. To Participate in the Telephone Conference Call: Dial in at least 15 minutes prior to start time: Domestic: 1-877-407-4018 International: 1-201-689-8471 Conference Call Playback: Domestic: 1-844-512-2921 International: 1-412-317-6671 Pass code: 13753281 The playback can be accessed through Thursday, August 21, 2025. About Texas Pacific Land Corporation Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 873,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership provide revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits related to a variety of land uses including midstream infrastructure projects and hydrocarbon processing facilities.
