Torrent Power Ltd (TPL) has signed a long-term Sales and Purchase Agreement (SPA) with BP Singapore Pte. Limited, a subsidiary of global integrated energy company bp, for supply of up to 0.41 MMTPA of LNG from 2027 to 2036.
The LNG procured under this agreement will be strategically utilized by TPL, including to operate its 2,730 MW Combined Cycle Gas-Based Power Plants (GBPPs) in India to meet the country’s rising power demand, peak demand periods’ support, and balancing the Renewables. It will also support the Torrent Group’s City Gas Distribution (CGD) arm – Torrent Gas Ltd.’s (TGL), growing requirement of LNG to ensure reliable supply of gas for households, commercial and industrial consumers and CNG vehicles.
This agreement represents a significant strategic move, reaffirming Torrent’s commitment for clean energy, securing competitively priced LNG for long-term power generation and gas distribution, and contributes to the Government of India’s goal of increasing natural gas’s share in the energy mix to ~15% by 2030 as well as strengthening India’s energy security.
Taking advantage of softness in LNG prices, TPL along with TGL further intends to explore medium- and long-term LNG procurement in response to the growing demand from its GBPPs and CGD networks respectively, aiming to enhance its portfolio diversity and reliably to meet energy supply needs of customers.
Torrent Power, the ₹ 29,165 Crs integrated power utility of about ₹ 45,000 Crs Torrent Group, is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution.
The Company has an aggregate installed generation capacity of 4,838 MWp comprising of 2,730 MW of gas-based capacity, 1,746 MWp of renewable capacity and 362 MW of coal-based capacity. Further, Renewable projects of 3,154 MWp and Pump Storage Capacity of 3,000 MW are under development. Total generation and Pump storage capacity, including projects under development is 7,992 MWp and 3,000 MW respectively. Torrent distributes nearly 31 billion units to over 4.21 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD), Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
Torrent Power is widely considered to be the leading power distributor in India and in its licensed areas in Gujarat has the distinction of having the lowest AT&C losses and best reliability indices in the country.
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