PTC inks pact with firms for 9000 mw

PTC India has signed a memorandum of understanding (MoU) with different entities for a total capacity of 9000 mw and has signed a power purchase agreement (PPA) for projects with a cumulative capacity of 2000 mw.

Tantra Narayan Thakur, chairman and managing director, said the corporation has signed an agreement with the Oil and Natural Gas Corporation (ONGC) to set up a 1,000 mw power plant at Palatal in Tripura.

It is also setting up the 300 mw Lanco Amarkantak plant at Chattisgarh and has picked up 11 per cent equity at Rs 30 crore. Thakur was speaking at the sidelines of the two-day conference on "Energy technologies forum'' organised by Ficci here today.

Thakur pointed out that the corporation has also picked up equity in the 750 mw hydro unit - West Citi power project in Nepal. The project to be commissioned in the next five years will supply electricity to the northern states of India. The venture will soon award the EPC contract, he added.

PTCIL is also expanding its interest and is foraying as project development. As a developer, it is in talks with Essar, Torrent, GMR and ONGC for setting up ventures.

The corporation will not only help in pushing financial closure of the power porjects but also help in fuel linkages and investments, Thakur pointed out. Thakur pointed out that PTCIL has traded 11 billion units as on March 31, 2004 while adding that "it will be same even this time around".

The corporation has not been able to meet the demand of the western and northern regions due to non-availability of electricity.