PTC India bags contracts worth Rs 10 crore under consulting services

Power trading solutions provider PTC India on Tuesday said it has bagged new contracts worth Rs 10.08 crore under consulting services.

As per the contracts, PTC will provide services to Madhya Pradesh Industrial Development Corporation (MPIDC).

"PTC India has received Letter of Award for Operations & Management including allied activities for power distribution licence for electrical network situated in the area of Industrial Area of Madhya Pradesh Industrial Corporation located at Mohasa Babai in Hoshangabad district for a period of 3 years at a total value of Rs 10.08 crore," PTC said in a statement.

This is a unique project in India where services to an industrial area for distribution licensee were granted after following due regulatory process as per Electricity Act 2003 by SERC.

PTC had supported MPIDC in the process of getting the distribution licence for Mohasa-Babai Industrial Area.

PTC CMD Rajib K Mishra said PTC India is emerging as a strong player in energy management consultancy and is focusing on expanding the consulting business in emerging areas of battery storage, clean energy and hydrogen.