PTC India, VS Lignite ink pact for 115 MW power supply

PTC India, a provider of power trading solutions, and VS Lignite Power have signed a long-term power purchase agreement for the provision of 115 MW of electricity. PTC India and VS Lignite Power entered a long-term power purchase agreement (PPA) for 115 MW. A 135 MW lignite-fired power plant is run by VS Lignite in Rajasthan’s Bikaner district. A captive lignite mine next to the project provides fuel for the power plant. Through short-term power sale agreements, the company is now selling power to a number of discoms (power distribution companies). PTC intends to investigate several possibilities for long-term, medium-term, and short-term power sale agreements with state utilities. The 10,000 MW of generating capacity in PTC's portfolio of long-term PPAs is made up of coal-based, huge hydro, and renewable energy projects. It is the first long-term power contract PTC has ever had with a lignite-based power facility. Rajib K Mishra, Chairman and Managing Director, PTC India, stated, This deal strengthens our commitment to securing a secure energy supply and expands PTC's long-term power portfolio. We acknowledge the growing significance of renewable energy and think it is critical to strike the correct balance between them in order to guarantee a sustainable and secure energy future for our nation. The Indian electricity market's innovator is PTC India. The Indian government has also given the corporation the go-ahead to trade electricity with Bangladesh, Bhutan, and Nepal.