Shares of Torrent Power Ltd were trading in the green and 1% higher on Tuesday, 3 June, after the company announced inking a long-term Sales and Purchase Agreement (SPA) with BP Singapore Pte. Limited, a subsidiary of global energy major BP, for the delivery of up to 0.41 million metric tonnes per annum (MMTPA) of liquefied natural gas.
According to the deal, LNG supplies will begin in 2027 and continue until 2036 and will be used to fuel Torrent’s 2,730 MW gas-based power plants to meet India’s rising power demand, peak load requirements, and renewable energy balancing.
The supply will also fulfil the increasing gas needs of Torrent Gas Ltd, the group’s city gas distribution (CGD) division that serves families, commercial and industrial customers, and CNG vehicles, according to a statement.
The action is viewed as a critical step toward improving energy security and supporting India’s goal of raising natural gas’s share of the energy mix to 15% by 2030.
Torrent Power also intends to take advantage of the current downturn in LNG pricing to pursue more medium- and long-term procurement opportunities.
Torrent Power has set 6 June 2025 as the record date for evaluating eligibility for its last dividend of Rs 5 per share for the fiscal year ending 31 March 2025. The dividend will be paid following shareholder approval at the forthcoming Annual General Meeting.
Torrent Power, part of the Rs 45,000 crore Torrent Group, provides complete power services, including generation, transmission, and distribution. The company has a total installed generation capacity of 4,838 MW, which includes 2,730 MW of gas, 1,746 MW of renewable energy, and 362 MW of coal-based capacity. It is currently developing 3,154 MW of renewable energy projects and 3,000 MW of pump storage capacity, bringing the total generation capacity to 7,992 MW.
On the distribution side, Torrent Power serves about 4.21 million clients in several states, including Gujarat, Maharashtra, Uttar Pradesh, and the Union Territories of Dadra and Nagar Haveli, as well as Daman and Diu. The company is known for having some of the lowest AT&C losses and the top dependability indices in the country.
At 1:53 pm, the shares of Torrent Power were trading 1.3% higher at Rs 1,414.60 on NSE.
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