Hindustan Powerprojects signs 25-year PPA with UP

The thermal arm of Hindustan Powerprojects (HPPPL) has signed a 25-year Power Purchase Agreement with state-run Uttar Pradesh Power Corporation Ltd (UPPCL), HPPPL announced here Tuesday

"Hindustan Powerprojects, as part of its PPA, will transmit 361 MW to cater to the state's (Uttar Pradesh) base load requirement, from its Anuppur Thermal Power Project, Phase-1 located in District Anuppur, Madhya Pradesh," the company said in a statement.

In a bid to tackle the persistent power crisis in the state, the UP government had last year initiated a process of upgrading and modernizing existing thermal power plants, as well as invite bids for power supply.

"On the basis of bids submitted, the UP government is now signing Power Purchase Agreements (PPA) with the lowest seven tariff bids thereby addressing a power deficit of almost 40 percent in the state," the company said.