Latest news with #GBPPs
Time of India
3 days ago
- Business
- Time of India
Torrent Power inks lNG supply pact with BP Singapore
MUMBAI: Torrent Power Ltd (TPL) on Monday said it has signed a long-term sales and purchase agreement with BP Singapore Pte. Limited, a subsidiary of London-headquartered integrated energy company BP Plc , for the supply of up to 0.41 million metric tonnes per annum of LNG from 2027 to 2036. The LNG procured under this agreement will be strategically utilised by TPL, including to operate its 2,730 MW combined cycle gas-based power plants (GBPPs) in India to meet the country's increasing power demand, support peak demand periods and balance the renewables. It will also support the growing requirement of LNG of Torrent Group's city gas distribution (CGD) arm, Torrent Gas Ltd. (TGL), to ensure a reliable supply of gas for households, commercial and industrial consumers, and CNG vehicles. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Una inversión en Banco Internacional CFD podría darte un salario extra Mercados de Capital Undo "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," the company said.
United News of India
3 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
Mint
3 days ago
- Business
- Mint
Torrent Power signs LNG supply pact with BP Singapore
New Delhi: Gujarat-based Torrent Power Ltd (TPL) has signed a long-term sale and purchase agreement with BP Singapore Pte. Ltd, a subsidiary of global energy major 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 will be strategically used by TPL to operate its 2,730 MW combined cycle gas-based power plants (GBPPs) across India, helping meet the country's growing electricity demand and support the grid during peak consumption periods, the company said in a statement. The agreement will also support Torrent Gas Ltd (TGL), the group's city gas distribution (CGD) arm, by catering to its rising LNG requirements. The fuel will be used to ensure reliable gas supply for households, commercial and industrial consumers, as well as compressed natural gas (CNG) vehicles, the statement added. '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,' the statement said. The deal comes amid a government push to boost power generation from gas-based plants. Last month, the Centre directed such plants to increase output in anticipation of surging electricity demand. India's peak power demand is projected to hit 270 GW in FY26, up from the record 250 GW seen last year. As part of India's broader energy transition, natural gas—considered a cleaner alternative to crude oil—is being promoted across sectors, including domestic cooking and transportation. The ministry of petroleum has set a target to raise natural gas's share in India's energy mix to 15% by 2030, up from the current 6%. A part of the Torrent Group, TPL has an installed generation capacity of 4,838 MWp, comprising 2,730 MW of gas-based, 1,746 MWp of renewable, and 362 MW of coal-based capacity. Another 3,154 MWp of renewable projects and 3,000 MW of pumped storage capacity are under development. This brings TPL's total planned generation and storage capacity to 7,992 MWp and 3,000 MW, respectively. Under its power distribution business, TPL supplies nearly 31 billion units of electricity to over 4.21 million customers across Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat; Dadra and Nagar Haveli and Daman and Diu; and Bhiwandi, Shil, Mumbra, Kalwa in Maharashtra; as well as Agra in Uttar Pradesh.
Time of India
3 days ago
- Business
- Time of India
Torrent Power to buy LNG from BP Singapore
Ahmedabad-based Torrent Power Ltd has signed an agreement to buy up to 0.41 million tonnes per annum of LNG from BP Singapore for 10 years starting 2027, the company said on Monday. Torrent will use the liquefied natural gas (LNG) to generate electricity at its 2,730 megawatt gas-based power plants as well as city gas demand, it said in a statement. "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 million tonnes per annum of LNG from 2027 to 2036," it said. The LNG procured under this agreement will be strategically utilised 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 a 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' share in the energy mix to 15 per cent by 2030 as well as strengthening India's energy security," the statement said. 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 meet energy supply needs of customers. Torrent Power, the ₹29,165-crore integrated power utility of about ₹45,000 crore Torrent Group, has an aggregate installed generation capacity of 4,838 MW comprising 2,730 MW of gas-based capacity, 1,746 MW of renewable capacity and 362 MW of coal-based capacity. Further, renewable projects of 3,154 MW and pump storage capacity of 3,000 MW are under development. Total generation and pump storage capacity, including projects under development is 7,992 MW and 3,000 MW, respectively.
