PTC India selected as aggregator for powermin’s 2,500 MW PPA scheme

NEW DELHI: PTC India Ltd on Tuesday said it has been selected as aggregator for the power ministry‘s 2,500-mw power procurement and supply scheme aimed at resolution of stressed thermal assets.

The phase II of the scheme is for procurement and supply of 2500 mw power on medium-term basis for three-year period. PTC and NVVN had participated in the auction process, an official statement said.

PFC Consulting Ltd which is the nodal agency for this scheme, conducted the bid process again on December 27, 2019. The earlier bid process for phase II carried by NHPC in February 2019, was cancelled due to lack of response from state discoms.

It is expected that PFC Consulting Ltd complete the bid process for selection of generators by January, 2020. PTC, with its experience in power trading, would endeavor to tie-up power under pilot scheme-II at the discovered price.

“PTC India Ltd is committed to address 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 Ltd chairman and managing director Deepak Amitabh said.