Torrent Power Limited announced that the Board at its Meeting held on May 22, 2024, approved Relinquishment from the position of Whole-time Director of the Company by Varun Mehta (DIN: 07862034) effective from close of business hours of May 31, 2024. He will continue to be a Non-Executive Director on the Board of the Company, liable to retire by rotation subject To Approve the Members of the Company. He has more than 10 years of experience across different business segments of the company- namely Renewables, Thermal Generation and Distribution.

He started his career in the Renewables business, where he made an important contribution in formulating the entry strategy of the Group in the area of renewable energy and setting up the initial set of renewable energy projects. Later when he moved to the Thermal Generation business, he spearheaded a strategic initiative on importing LNG directly from the international markets, making Torrent Power the first Indian power company to successfully do so. This initiative led to significant benefits for the company in terms of revenue enhancement and cost savings.

He heads the Distribution License (Ahmedabad, Gandhinagar, Surat, Diu, Daman, Dadra, Nagar Haveli, Dahej and Dholera), Transmission and Cables business. Under his leadership, the Company's distribution business has widened its lead over competition and strengthened its position as a benchmark utility. Some of his key contributions have been take-over of operations at Diu, Daman, Dadra, Nagar Haveli, Dholera and improving AT&C losses further and development of Dholera and Mandal Bechraji.

His efforts in the area of operational excellence led to Torrent Power being recognized as one of only 5 companies in the world to be simultaneously awarded the prestigious Sword of Honour and Globe of Honour from British Safety Council in 2021. He has very effectively translated Torrent's core values into Distribution business and driven the Operational Excellence journey and strengthened the Process Orientation of the business. He has been the Whole Time Director of the Company since August 08, 2022.

He leads the Company's efforts at continuous operational improvement and delivering growth.