Mumbai, Feb. 16 -- Torrent Power has entered into a definitive agreement with L&T Power Development (L&TPDL), a wholly owned subsidiary of Larsen & Toubro (L&T) to acquire 100% of equity stake and convertible instruments in Nabha Power (NPL) for an Enterprise Value of Rs 6,889 crore.

NPL is a wholly owned subsidiary of LTPDL, and the transaction is subject to requisite regulatory approvals and customary closing conditions. NPL owns and operates a 1,400 MW (2 X 700 MW) supercritical coal-fired thermal power plant at Rajpura in Patiala district, Punjab.

NPL is a fully contracted thermal power asset with revenue of Rs 4,866 crore and Adjusted EBITDA of Rs 1,153 crore in FY 2025. The supercritical plant, built on advanced Japanese technolog...