The agreements were exchanged between PTC and discoms in presence of Power Minister Piyush Goyal at a conference of power, new and renewable energy and mines ministers of states and UTs held here yesterday, the company said in a statement.
Power trading solution provider PTC India has announced execution of agreements with seven state utilities for sale of wind energy for a total 1049.9 mw. The agreements were exchanged between PTC and discoms in presence of Power Minister Piyush Goyal at a conference of power, new and renewable energy and mines ministers of states and UTs held here yesterday, the company said in a statement.
The distribution utilities of Uttar Pradesh, Bihar, Jharkhand, Assam, Odisha, Delhi and Noida have signed up. Uttar Pradesh is the largest beneficiary of the scheme and has signed the memorandum of agreement (MoA) for 440 mw. Earlier this year, the tariff for wind energy was discovered transparently through competitive bidding at a historic low of 3.46 per unit.
“The scheme is very beneficial for the power industry as a whole and the wind industry in particular. It will attract more investments in the industry and lower tariff through competitive bidding, which will benefit end consumers. This model will be very helpful for scaling up wind power generation in the overall renewable energy basket in future,” Deepak Amitabh, Chairman and Managing Director, said in the statement.
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The Ministry of New and Renewable Energy (MNRE) had formulated the scheme for tying up of 1,000 mw ISTS (Intra- state Transmission System) connected wind power in India. Under the scheme, the projects are to be set up in windy states for supply of power to non-windy ones and UTs. PTC is the trading partner responsible for purchase and sale of wind power under the programme.
The government successfully completed the first ever auction of wind power and associated infrastructure for 1,000 mw in the last week of February with a provision to increase in up to 1,050 mw. The bidders were selected and the Letter of Award was given to successful bidders. The PTC India has successfully tied up entire power with the above discoms, it said.