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Power trading solution provider PTC India has inked a long-term power purchase agreement with VS Lignite Power for 115 MW of electricity supply.
PTC India executed a long-term power purchase agreement (PPA) for 115 MW with VS Lignite Power Pvt. Ltd, a company statement said.
VS Lignite operates a 135-MW lignite-fired power plant in Bikaner district of Rajasthan.
The power plant sources fuel from a captive lignite mine near the project.
The company is presently selling power to various discoms (power distribution companies) through short- term power sale agreements.
PTC plans to explore various opportunities to sell this power to state utilities under long-term, medium-term and short-term power sale arrangements.
PTC has a portfolio of long-term PPAs with 10,000 MW power capacity consisting of coal-based, large hydro and renewable energy projects. This marks PTC's first long-term power agreement with a lignite-based power project.
Rajib K Mishra, CMD, PTC India, said in the statement, "This agreement adds to PTC's long-term power portfolio and reinforces our commitment to securing a reliable energy supply. We recognise the growing importance of renewable energy and believe that achieving the right balance between conventional and renewable sources is vital to ensuring a sustainable and secure energy future for our country."
PTC India Ltd. is the pioneer in power market in India. The company has also been mandated by the government of India to trade electricity with Bhutan, Nepal and Bangladesh.
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