Chandigarh, June 29 -- Torrent Power Limited had completed the acquisition of the 1,400 MW Rajpura Thermal Power Plant from L&T Power Development Limited for Rs.3,632.35 crore. The acquisition became effective on June 25 after receiving approval from the Competition Commission of India (CCI).

Under the deal, Torrent Power acquired 100% equity shares and convertible instruments of Nabha Power Limited (NPL), which owns and operates the Rajpura plant. NPL has consequently become a wholly owned subsidiary of Torrent Power.

The Rajpura plant, comprising two 700 MW supercritical generating units, supplies electricity to the state under a 25-year power purchase agreement (PPA) with Punjab State Power Corporation Limited (PSPCL).

NPL was incor...