New Delhi, Feb. 19 -- Torrent Power Ltd continues to scale its coal-based portfolio. The recent acquisition of Nabha Power Ltd, a subsidiary of Larsen & Toubro Ltd, comes at a time when other power producers are also increasing their coal-based capacities to meet rising electricity demand.

The transaction was at an enterprise value of Rs.6,889 crore and included Rs.2,733 crore of net debt.

The deal should help Torrent expand its geographical reach to North India. Nabha Power operates a 1.4 gigawatt (GW) coal-based power plant in Punjab, which can be expanded by 0.8 GW with the available infrastructure.







It has a power purchase agreement (PPA) with the Punjab State Power Corporation for sale of its power, valid till 2039, providing...