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State-run PTC India announced on Friday that it will supply 270 MW of power to the Kerala State Electricity Board (KSEB) under Pilot Scheme-II of the Ministry of Power, from January 1.
The power will be supplied by the Jindal India Thermal Power Project in Odisha under a medium-term PPA for three years. PTC India was selected as an aggregator to facilitate the purchase and sale of power. Tariff was discovered at the rate of Rs 3.26 per unit through a competitive bidding process on the DEEP e-bidding portal, and was the lowest tariff for a medium-term contract.
PTC has also tied up power under the scheme with TANGEDCO and JKPCL. Supply is expected to start soon.
“These medium-term PPAs will reduce the power purchase cost of Discoms and it will be possible to schedule the full quantum under MOD. Generators would also be able to service their debt obligations and run the plants smoothly with three-year contracts. These pilot schemes of the Ministry of Power are beneficial for all stakeholders of the power sector,” PTC India CMD (additional charge), Rajib K Mishra, said.
The power trading solutions firm is one of the leading companies in power trading and has been mandated by the Centre to trade electricity with Bhutan, Nepal and Bangladesh.
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