6 days ago
- Business
- United News of India
Torrent power inks deal with BP Singapore
Ahmedabad, Jun 2 (UNI) Torrent Power Ltd (TPL) has signed a long-term Sales and Purchase Agreement (SPA) with BP Singapore Pte. Limited, a subsidiary of global energy giant bp, for the supply of up to 0.41 million metric tonnes per annum (MMTPA) of liquefied natural gas (LNG) from 2027 to 2036.
The LNG to be procured under this agreement will be strategically deployed by TPL to operate its 2,730 MW Combined Cycle Gas-Based Power Plants (GBPPs) across India. The gas will help meet the country's rising electricity demand, provide peak power support, and facilitate the integration of renewable energy sources.
The deal will also bolster Torrent Group's City Gas Distribution (CGD) business, Torrent Gas Ltd (TGL), by supporting its growing need for LNG to supply households, commercial and industrial users, as well as compressed natural gas (CNG) for vehicles.
Describing the SPA as a key strategic step, Torrent Power said the agreement underscores its commitment to clean energy and long-term energy security. It is also aligned with the Government of India's target of increasing the share of natural gas in the country's energy mix to 15 per cent by 2030.
Capitalising on the prevailing softness in global LNG prices, TPL and TGL are also looking at additional medium- and long-term LNG sourcing opportunities to enhance supply reliability and diversify their energy portfolios.
Torrent Power Limited, the ₹29,165 crore integrated power utility of the ₹45,000 crore Torrent Group, is among India's leading power companies with a presence across the generation, transmission, and distribution segments.
The company has an installed generation capacity of 4,838 MWp, including 2,730 MW gas-based, 1,746 MWp renewable, and 362 MW coal-based capacity. An additional 3,154 MWp of renewable energy projects and 3,000 MW of pump storage projects are under development.
In distribution, Torrent Power supplies nearly 31 billion units of electricity annually to over 4.21 million customers in Gujarat, Maharashtra, Uttar Pradesh and the Union Territory of Dadra & Nagar Haveli and Daman & Diu. It is widely regarded as a leading power distributor in India, noted for achieving the lowest aggregate technical and commercial (AT&C) losses and highest reliability in its licensed areas. UNI BDN SSP
