PTC in talks with corporates for selling power

Power Trading Corporation (PTC) is in talks with Indal, Nalco and two Torrent group companies for buying and selling power.

The company is negotiating with the Torrent group-promoted Ahmedabad Electricity Company (AEC) for selling power and it is planning to buy power from the group's proposed 1,050 mw unit at Surat.

"The company is discussing the issue with the companies," sources said. T N Thakur, CMD of PTC, refused to comment on the issue.

AEC is an integrated electricity company with a 490 mw generation capacity. It distributes power to over a million consumers in Ahmedabad and Gandhinagar.

It is learnt that PTC is looking at buying 270 mw of power from the proposed plant near Surat. The Torrent group is setting up this project through a special purpose vehicle, Torrent Power Generation.

It is also learnt that PTC is planning to sell power to Indal and buy from Nalco.

The corporation is promoted National Thermal Power Corporation, PowerGrid Corporation of India, the National Hydro Power Corporation and the Power Finance Corporation. Subsequently, Tata Power Company and the Damodar Valley Corporation picked up stakes in these companies.