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Breaking: Torrent Power acquires Rajpura Thermal Plant for Rs 3,632.35 crore
Babushahi Bureau
New Delhi, June 28: Torrent Power has completed the acquisition of the Rajpura Thermal Power Plant in Punjab from L&T Power Development Limited for ₹3,632.35 crore, effective June 25, 2026, following approval from the Competition Commission of India (CCI).
As part of the transaction, Torrent Power acquired 100 per cent of the equity shares and convertible instruments of Nabha Power Limited, making the company a wholly owned subsidiary.
The Rajpura plant, operated by L&T Power Development Limited, has an installed capacity of 1,400 MW (2x700 MW) and uses supercritical thermal technology. The acquisition increases Torrent Power's operational thermal power generation capacity from 5 GW to approximately 6.4 GW.
Torrent Power had earlier informed stock exchanges about the execution of the share purchase agreement on February 16, 2026, and the receipt of regulatory approval on April 8, 2026.
The Rajpura thermal plant supplies electricity to the Punjab State Power Corporation Limited (PSPCL) under a long-term Power Purchase Agreement (PPA), providing a stable revenue stream for the company.