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Our Bureau

New Delhi , June 3

POWER trading major PTC India Ltd has signed a 25-year agreement with the Madhya Pradesh Electricity Board for sale of power generated by the first phase of the Lanco Amarkantak project located in the northern state of Chattisgarh.

The agreement covers sale of the entire generation output of 300 megawatts from the first phase of the project.

"Long-term agreements like this one are the basic building blocks for the sustainability of our business model," Mr T.N. Thakur, Chairman of PTC, said in a statement on Friday.

PTC India plans to sign similar agreements with other projects having an aggregate capacity of nearly 14,000 megawatts, of which 2,500 megawatts will be signed in the near term, the release said.

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