New Delhi: PTC India Limited,the leading provider of power trading solutions in India, informed about appointment of Prakash S Mhaske as an Independent Director of the company, with effect from January 16, 2023. The appointment of Shri Mhaske is for a period of three years, subject to the approval of shareholders.Mr. Mhaske, a veteran, retired as a Chairman, from Central Electricity Authority.
Commenting on the occasion, Dr. Rajib K Mishra, CMD (addl. charge), PTC India Limited, said:
“We are delighted to welcome Mr. Mhaske to the board of PTC India. He is a nationally and globally respected Power Sector Expert and his deep and diverse experience in the areas of Power System will be of great value to the company.”
PTC India Ltd.is the pioneer in starting a power market in India. The Company has maintained its leadershipposition in power trading since inception. PTC has also been mandated by the Government of India to tradeelectricity with Bhutan, Nepal and Bangladesh.
The trading activities undertaken by PTC include long term trading of power generated from large power projects including renewables as well as short term trading arising as a result of supply and demand mismatches, which inevitably occur in various regions of the country.
The Company is credited with a number of products in the electricity trading market to meet the divergent needs of the customers. Driven by the vision of shaping a vibrant power market, PTC has been providing value-added services to its clients and built trust as a reliable partner. The electricity traded from cross border resources is a significant component of the total electricity traded by the Company.
PTC is a unique example of a successful public-private partnership with major PSUs of the Ministry of Power,Government of India as promoters and a widely held ownership interest. The diverse composition of its Board of Directors includes eminent peopleas independent directors.