03-06-2025
Torrent Power shares up nearly 2% as it signs long-term LNG supply deal with BP Singapore for Rs 192 crore energy project
By Aditya Bhagchandani Published on June 3, 2025, 09:54 IST
Shares of Torrent Power rose nearly 2% to ₹1,418.40 in Monday's trading session after the company announced a significant strategic partnership with BP Singapore Pte. Ltd., a subsidiary of global energy giant bp. Under the long-term Sales and Purchase Agreement (SPA), Torrent Power will procure up to 0.41 million metric tonnes per annum (MMTPA) of LNG from 2027 to 2036.
The LNG will be used to operate Torrent's 2,730 MW gas-based power plants, meeting peak power demand and balancing renewable energy inputs. It will also serve Torrent Gas Ltd.'s city gas distribution needs for residential, commercial, and CNG vehicle segments.
The company noted this move as a step toward strengthening India's energy security and supporting the government's goal of increasing natural gas's share in the energy mix to ~15% by 2030. Torrent also hinted at further exploring medium- and long-term LNG procurement opportunities to meet its growing energy needs.
As of the latest update, Torrent Power's stock was trading at ₹1,418.40, up ₹21.90 or 1.57%, with a market cap of ₹713.02 billion.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
