Shares of Torrent Power Ltd. saw an uptick after the company announced a long-term LNG supply agreement with BP Singapore. The deal aims to secure competitively priced liquefied natural gas (LNG) for Torrent’s power plants and city gas distribution network.
🔴 Key Highlights of the Deal:
- BP Singapore will supply up to 0.41 MMTPA of LNG from 2027 to 2036.
- The LNG will be used to operate Torrent’s 2,730 MW Combined Cycle Gas-Based Power Plants (GBPPs) in India.
- The agreement will also support Torrent Gas Ltd.’s (TGL) growing LNG requirements, ensuring reliable gas supply for households, industries, and CNG vehicles.
📢 Market Reaction:
- Torrent Power shares rose 1.2%, trading at ₹1,413 apiece following the announcement.
- The stock has a 52-week high of ₹2,037 and a market capitalization of ₹71,000 crore.
⚠️ Strategic Impact:
This agreement aligns with India’s goal of increasing natural gas’s share in the energy mix to 15% by 2030 and strengthens Torrent’s position in clean energy and power generation.
👉 What do you think of this market move? Let us know in the comments!
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