PTC India appointed as Aggregator under procurement of 1500 MW power by TANGEDCO for 5 years (covered under Medium Term) – EQ Mag Pro
New Delhi : Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) owned by Government of Tamil Nadu, India has appointed PTC India Limited as Aggregator for their recently floated tender for procurement of 1500 MW power for 5 years covered under medium term. PTC will sign PPAs with successful generators and PSAs with TANGEDCO.
PTC India is a leading provider of power trading solutions in India and has maintained its leadership position in power trading since inception. 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.
PTC is also Aggregator under Pilot Scheme-I and Pilot Scheme-II of MoP, GOI. PTC has tied up 400 MW power supply with TANGEDCO under Pilot Scheme-II. TANGEDCO has appointed PTC for their balance requirement of power and floated a 1500 MW tender for 5 years.
Dr. Rajib K. Mishra, CMD (Addl. charge), PTC mentioned “PTC has long association with TANGEDCO. We are confident that price under current tender would be competitive and it will reduce the power procurement cost of TANGEDCO. TANGEDCO is also taking various measures to strengthen its financial position in future.”
About PTC India Limited
PTC India Ltd., a Government of India initiative, 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.
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 to shape a vibrant power market, PTC has been providing value-focused services to its clients and build trust as a reliable partner.
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.
