In a first, PTC India to set up power trading firm in Nepal

07 Sep 2022 CW Team

State-owned PTC India will set up a power trading company in Nepal, which will supply electricity to India and Bangladesh, the firm's chairman and managing director Rajib K Mishra said. This will make it the first Indian power firm to have a set-up in Nepal, and the move will boost the Centre's aim to build a South Asia-focused energy security architecture.

PTC may in the future also sell power to Myanmar and Vietnam, if the required infrastructure becomes available, Mishra said. Moving beyond PTC's mandate of trading power to and from India, it would act as an aggregator and trade power on multiple fronts.

“The board has given us an approval for starting a new trading company in Nepal. So, that’s something we have not done outside the country. We have done a lot of business with Bhutan, Bangladesh and Nepal as a trading company in India, sourcing the power from them. For the first time, we will try to have a company there in Nepal," Mishra told an Indian publication.

PTC has signed a memorandum of understanding (MoU) with NHPC for the sale of power from the upcoming West Seti and Seti River-6 hydro power projects in Nepal. PTC India will operate as a holding company and it will be at an arm’s length from the Nepal entity, although there will be synergy in their business.

The firm is waiting for the amendments to the Electricity Act 2022 in Nepal which would give companies access to power trading.

Infrastructure Urban

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