PTC India enters into power pruchase of 6 projects

During the year, PTC India Ltd has entered into long-term agreements for Power Purchase for six projects totaling a capacity of 3144 MW and Power Sale relating to six projects for 2314 MW. The cumulative capacity tied up through long-term projects by the Company, therefore, has reached 6676.3 MW. Additionally, the Company has entered into MOUs with another 35 projects totaling to a capacity of 16,703 MW, for which Power Purchase and Sale agreements are being negotiated. During the second half of the year, long-term procurement of new power capacity by State Power Utilities / distribution Companies was mandated to be through competitive bidding only, as per the National Tariff Policy issued by Government of India. The Company has adapted its business model to this change, and has participated successfully in several competitive bidding processes in states.

Development of new businesses gained further momentum several advisory-cum-transaction agreements being structured. Several coal intermediation deals were completed successfully. The Company's advisory services built up previous starts, with the order book showing a near Rs 3 Crore size.

Source : Equity Bulls

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