Home / Business and Economy / Torrent Power Expands North with Nabha Plant Buy
Torrent Power Expands North with Nabha Plant Buy
16 Feb
Summary
- Torrent Power is acquiring Nabha Power's coal plant.
- The deal signifies Torrent Power's entry into North India.
- Acquisition is expected to be value accretive from the first year.
Torrent Power Limited has finalized an agreement to acquire Nabha Power Limited, a subsidiary of L&T Power Development. This acquisition represents Torrent Power's strategic entry into the northern Indian power market.
Nabha Power operates a 1,400 megawatt supercritical coal-fired thermal power plant located in Rajpura, Punjab. The plant was initially commissioned in 2014.
Larsen & Toubro is divesting Nabha Power as part of its broader strategy to exit the power project development sector and refocus on its primary business areas. The company views this divestiture as a method to monetize its assets.
Torrent Power anticipates that the acquisition will yield financial benefits from the initial year of operation. The completion of this transaction is contingent upon receiving the required regulatory approvals.
