Kanoria Chemicals and Industries today entered into an agreement with PTC India, formerly known as Power Trading Corporation, to sell surplus power from its captive power plant in Renukoot, Uttar Pradesh.Under the agreement, Kanoria Chemicals will supply 10 MW power to PTC from its coal-based, captive plant at the chlor-alkali manufacturing facility in Renukoot. PTC would evacuate the power to deficient locations.A release issued by Kanoria Chemicals said: "The company is expanding its captive power generating capacity to 50 MW from the present 25 MW. About half of the power generated after the expansion, which is expected to be completed by September this year, would be consumed by the company's additional caustic soda production facility. The rest would be sold to PTC." R V Kanoria, CMD of Kanoria Chemicals, said: "This will also be an additional revenue stream for the company while providing us the flexibility of utilising this surplus as per our increased requirement over a period of time."This is the first time PTC has signed a power purchase agreement with a captive power producer.T N Thakur, CMD of PTC India, said: "For the first time ever, we have made a foray into the captive power producer's market with a smaller-quantum, shorter-duration power contract. This is expected to become a structural model not only for power-intensive chemical manufacturing industries but also for other captive power plants."
