Torrent Power Limited has informed the Exchange regarding a press release dated August 30, 2025, titled ""Torrent Power to develop 1,600 MW Coal-Based Thermal Power Project in Madhya Pradesh"".
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Torrent Power has received a Letter of Award from MP Power Management Company to set up a greenfield 2x800 MW ultra-supercritical coal-based thermal power plant in Madhya Pradesh. The project involves an investment of approximately Rs 22,000 crores, the single largest investment by the Torrent Group in the power sector. Power will be supplied to MP Discoms under a 25-year PPA at a tariff of Rs 5.829/kWh, with commissioning expected within 72 months of PPA execution. Coal will be arranged by MPPMCL under the SHAKTI Policy. With this addition, the company's total locked-in generation and pump storage capacity will reach ~9.6 GWp and 3 GW respectively.
This is a major capacity expansion that significantly boosts Torrent Power's thermal generation portfolio and long-term revenue visibility through a 25-year PPA. However, the large Rs 22,000 crore capex may pressure leverage and capex commitments in the near term, making the stock sensitive to execution timelines and funding plans.