PTC India executes Agreement with Bhutan to export 600 MW power during winter season
New Delhi: Bhutan, through Druk Green Power Corporation Limited, has entered into an agreement with PTC India Ltd, for purchase of power from Indian Power Market in order to meet its power requirement during the dry winter season. Designated Authority (DA) for cross border power trading has accorded an approval for import of power by Bhutan. Further, Bhutan has also executed the agreement with Settlement Nodal Agency for settlement of grid operation related charges. With all requisite approvals, Bhutan will now start procuring upto 600 MW of power, through PTC, from the Indian Power Market.
Commenting on the above development, Dr. Rajib K Mishra, CMD (addl. Charge), PTC India Ltd., said “Over the years, Bhutan has been exporting hydro power to India. The increasing domestic demand in Bhutan now requires power imports during the dry winter season. This PPA will help address such energy requirements. This agreement is a step forward towards PTC’s endeavor to strengthen the regional power markets for energy security and sustainability in South Asia.”
PTC India Ltd.,is the pioneer in starting a power market in India. The Company has maintained its leadership position in power trading since inception. PTC has also been mandated by the Government of India to trade electricity with Bhutan, Nepal and Bangladesh. PTC India has two subsidiaries, PFS – a public listed non-banking financial institution registered with RBI and wholly owned subsidiary, PEL with wind energy assets.
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 people as independent directors.
