PTC India inks pact for 115 MW power supply from VS Lignite Power.

Power trading solution provider PTC India has inked a long-term power purchase agreement with VS Lignite Power for 115 MW of electricity supply. PTC India executed a long-term power purchase agreement (PPA) for 115 MW with VS Lignite Power Pvt. Ltd, a company statement said.

VS Lignite operates a 135-MW lignite-fired power plant in Bikaner district of Rajasthan.

The power plant sources fuel from a captive lignite mine near the project.

The company is presently selling power to various discoms (power distribution companies) through short- term power sale agreements.

PTC plans to explore various opportunities to sell this power to state utilities under long-term, medium-term and short-term power sale arrangements.

PTC has a portfolio of long-term PPAs with 10,000 MW power capacity consisting of coal-based, large hydro and renewable energy projects. This marks PTC's first long-term power agreement with a lignite-based power project.

Rajib K Mishra, CMD, PTC India, said in the statement, "This agreement adds to PTC's long-term power portfolio and reinforces our commitment to securing a reliable energy supply. We recognise the growing importance of renewable energy and believe that achieving the right balance between conventional and renewable sources is vital to ensuring a sustainable and secure energy future for our country."

ET