PTC chosen as aggregator for buying 2,500 Mw power from stressed producers

PTC India on Tuesday said it has been selected as an aggregator for purchasing 2,500 MW of power from stressed coal-based energy plants under a central scheme.

The state-owned company will invite bids for purchasing the power over a medium-term and enter into supply pacts with distribution companies.

"PTC India is committed to addressing the challenges and create value for all stakeholders. PTC endeavours to meet the dynamic needs of the power sector through its holistic solutions. At the market discovered price, PTC would make every effort to place power with the state discoms," PTC India CMD Deepak Amitabh said.

The bid was reconducted by PFC Consulting Ltd, the nodal agency of the scheme, on December 27, 2019, it added.

The earlier bidding process which was carried out by NHPC in February, 2019, was cancelled due to lack of response from state discoms.

It is expected that PFC Consulting Ltd will complete the bidding process for selection of generators by Jan, 2020.

PTC, with its experience in power trading, would endeavour to successfully tie-up power under the scheme at the discovered price, it added.