Torrent Power Expands Portfolio with ₹6,889 Crore Nabha Power Acquisition.

Torrent Power has agreed to acquire Nabha Power (NPL), a coal-based power plant operator, from Larsen & Toubro in a deal valued at ₹6,889 crore. The acquisition marks a significant expansion of Torrent’s thermal power footprint in northern India.

Under the agreement, Torrent will purchase 100% of the equity and convertible instruments held by L&T Power Development Ltd (LTPDL) in Nabha Power. The transaction, which is expected to close by June 30, 2026, will increase Torrent Power’s operational capacity from around 5 GW to 6.4 GW, bolstering its portfolio spanning gas, renewable and coal-based assets.

Of the total enterprise value, Larsen & Toubro will receive ₹3,661 crore. Around ₹495 crore will be utilised for repayment of promoter loans, while the net debt of ₹2,733 crore as of March-end 2025 will also be addressed as part of the transaction structure.