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Friday, Apr 23, 2004

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PTC in Rs 800-cr deal with Punjab electricity board

Our Bureau

New Delhi , April 22

POWER Trading Corporation (PTC) has entered into a long-term power supply agreement with the Punjab State Electricity Board (PSEB).

Power for this sale transaction will be sourced from the 450-MW Baglihar hydroelectric power project in Jammu & Kashmir and the 22.5-MW Bhilangana hydroelectric power project in Uttaranchal.

The total annual revenue (power sales) from the two sale agreements for PTC is expected to be in the region of Rs 800 crore.

Baglihar power project, promoted by the Jammu & Kashmir Government is expected to be commissioned by March 2006. A major portion of power from the project will be sold to PTC for an initial period of 12 years. Punjab has agreed to purchase the entire power.

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