State-owned NHPC today said that its two power plants in Sikkim -- 510 MW Teesta-V and 60 MW Rangit Power Station -- have extended power purchase agreements (PPA) with buyers for 35 years.
"...Power purchase agreements (PPAs) have been extended for 35 years for Teesta-V power station (510 mw) and Rangit Power Station (60 mw) from the date of commercial operation of last unit in respect of both power stations," state-owned NHPC said in a filing to BSE.
The said PPAs are with beneficiaries of Bihar (North Bihar & South Bihar), Sikkim and Damodar Valley Corporation.
A PPA, or electricity power agreement, is a contract between two parties, one which generates electricity (the seller) and one which is looking to purchase electricity (the buyer).
NHPC, a hydropower major, generated 23404 million units (MU) of electricity in 2015-16.
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