Power trading solution provider PTC India on Friday said it has secured trading of entire saleable electricity capacity of 1,000 MW Karcham Wangtoo Hydro project.
The company has completed the sale of remaining 200 MW under the long term PPA (power purchase agreement) of hydro power under Karcham Wangtoo Hydro project to Punjab State Utility on April 1, 2018, PTC India said in a statement. It had already sold 680 MW of the saleable capacity of the power station to the state utilities of Haryana, Uttar Pradesh and Rajasthan under long term PPAs.
With the sale of remaining 200 MW saleable capacity, entire saleable power of the plant is being supplied on long term basis to various state utilities through PTC India, it added.
Having an installed capacity of 1,000 MW, Karcham Wangtoo Hydroelectric project is located on river Satluj in Kinnaur District of Himachal Pradesh. The project is a run of river plant with pondage, having peaking capability of more than 3 hours and is able to meet diurnal variation of power demand.
The project is owned and operated by Himachal Baspa Power Company ltd, a company of JSW Group.
PTC India is the trading partner of this project to arrange sale of entire saleable power of the plant to various distribution utilities on long term basis.
Deepak Amitabh, Chairman and Managing Director, PTC India said in the statement, “The electricity produced from the Karcham Wangtoo project will help the beneficiary states in improving their hydro-thermal mix and will be help in meeting peak load requirement in a cost effective and environment friendly manner”.
The PTC India ltd is the pioneer in starting a power market in India. The company has maintained its leadership position in power trading since inception. PTC has also been mandated by the government to trade electricity with Bhutan, Nepal and Bangladesh.
The trading activities undertaken by PTC include long term trading of power generated from large power projects as well as short term trading arising as a result of supply and demand mismatches, which inevitably arise in various regions of the country.
