PTC India ink pacts for 1050 MW wind power supply

PTC India has said it has signed agreements with seven state utilities for sale of wind energy for a total 1049.9 mw.

In a statement, the power trading solution provider said, “the agreements were exchanged between PTC and discoms in presence of Power Minister Piyush Goyal at a conference of power, new and renewable energy and mines ministers of states and UTs”.

The distribution utilities of Uttar Pradesh, Bihar, Jharkhand, Assam, Odisha, Delhi and Noida have signed up. Uttar Pradesh is the largest beneficiary of the scheme and has signed the memorandum of agreement (MoA) for 440 mw.

Deepak Amitabh, the company’s Chairman and Managing Director, said in the statement: “The scheme is very beneficial for the power industry as a whole and the wind industry in particular. It will attract more investments in the industry and lower tariff through competitive bidding, which will benefit end consumers. This model will be very helpful for scaling up wind power generation in the overall renewable energy basket in future.”

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Research Desk

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