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SJVN signs MOU with PTC on RTC Power

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By Our Staff Reporter

Shimla, 24 Nov: SJVN Limited entered into a MoU (Memorandum of Understanding) with PTC India Limited (formerly known as Power Trading Corporation of India Limited), to collaborate on the development of products to supply Round the Clock (RTC) Power. The MoU was signed by Akhileshwar Singh, Director (Finance), SJVN, and Dr Rajib Kumar Mishra, Director, (BD & Marketing), PTC India Ltd, in the presence Rajesh Kumar Gupta, Chief General Manager, SJVN and other senior officials.
On this occasion, SJVN CMD Nand Lal Sharma disclosed that SJVN & PTC will jointly develop products for supply of Renewable Power from Projects of SJVN bundled with available market capacity for supply of RTC power to beneficiaries. PTC will provide Portfolio Management Services to SJVN. He added that the primary objective of this MOU is to facilitate Development of Energy Mix from Renewable Energy Projects of SJVN for RTC Power.
Sharma also stated that, according to the terms of the MoU, PTC will provide necessary market information in terms of availability of merchant power capacity from various sources. In addition to this, PTC will also study, explore, prepare and submit detailed reports regarding supply of power from proposed Renewable Energy projects of SJVN to potential beneficiaries across India.
Recently, in the United Nations Climate Change Conference (COP 26), Prime Minister Narendra Modi had stated India’s intent to generate 500 GW of renewable energy by 2030.