Torrent Power shares rise nearly 7% on plans to set up 1,600 MW power plant in Madhya Pradesh

Torrent Power bagged the project involving an investment of ₹22,000 crore, through its participation in the competitive bidding process conducted by MPPMCL at a tariff of 5.829 Rs/kWh, it said in a regulatory filing dated Saturday.

The investment of approximately ₹22,000 crore will be the single-largest by the Torrent Group in the power sector, it added.

The project entails setting up a greenfield 2x800 MW ultra-supercritical power plant in Madhya Pradesh on a DBFOO (design, build, finance, own, and operate) model. Furthermore, its entire capacity will be supplied to MPPCL.

The project is set to be commissioned within 72 months from the date of execution of a 25-year Power Purchase Agreement (PPA).

Commenting on the project, Jinal Mehta, Vice Chairman and Managing Director, said: “This investment by Torrent Power will play a significant role in achieving the GoI’s ambitious target of 80 GW of additional coal-based capacity by 2032 to support the country’s economic growth and to add much-needed base load capacity to stabilise the grid.”

The project is expected to create about 8,000 to 10,000 direct and indirect jobs during its construction and 1,500 direct and indirect jobs during its operations phase.

Torrent Power share performance

At around 12:55 pm, the Torrent Power stock was trading 2.08% higher at ₹1,252.80 per equity share.

The scrip fell 1.29% over the week and 4.41% over the week. Furthermore, it declined 11.98% over three months and 15.57% on a year-to-date basis.

While the share touched a 52-week low of ₹1,207.25 on February 17, 2025, it reached a year’s high of ₹2,037 apiece on October 22, 2024.

Torrent Power has a total market capitalisation of ₹63,103.84 crore, as of September 1, 2025, according to data on the NSE.