PTCs Historical foray into Wind Energy Sale
28/01/2004
Power Trading Corporation of India Ltd. (PTC), continuing in its quest to create and expand a power market within the country, signed a Memorandum of Understanding (MoU) with Enercon India Ltd. (EIL), a leading wind energy company and a subsidiary of international wind energy giant Enercon, Gmbh for an innovative Stand-by Power Purchaser Agreement for the plants coming up in Rajasthan and Karnataka. Each project is designed to supply 126 Million Units of electricity to the local grid at the rated PLF.
The Power Purchase Agreement would be signed between PTC and EIL as a sequel to this MoU and would be operative whenever there is any default by the primary buyer(s) of the wind energy, viz. the State Electricity Boards / Utilities. This milestone agreement would therefore act as a guarantee for continued cash inflow, which is essential to attract financing support for the projects from the institutions. The projects based on sound commercial principles will provide non-polluting green power to the Utilities. This is the first foray of PTC onto the promising wind power market, and its success will pave the way for productive utilization of the wind energy potential in the country, roughly estimated at about 40 thousand megawatts.
PTC, a pioneer and a leader in power trading in India has been creating innovative concepts and deals which further the cause of a commercially viable electricity market within the country and pave the way for a brighter tomorrow. |
