Torrent Power to acquire Nabha Power from Larsen & Toubro for $760m.

Torrent Power, an Indian energy and power company, agreed to acquire Nabha Power, which operates a thermal power plant in India, from Larsen & Toubro, an Indian multinational conglomerate headquartered in Mumbai, for $760m. Given NPL’s long-term power purchase agreement and stable operating performance, the divestment is a value-driven monetisation exercise. The transaction is aligned with L&T’s broader strategy to exit the development projects business.