PTC India Limited, the leading provider of power trading solutions in India, will be the trading partner for purchase and sale of power from wind power projects selected through GoI’s first ever auction of wind power and associated infrastructure for 1,000 MW. PTC India is the nodal entity for supplying power to utilities after entering into a power purchase agreement (PPA) with successful bidders.
With the wind power auction fixing the tariff at Rs 3.46 per unit for 25 years, the stage is now set for wind power to emerge as a credible renewable power source in the country. Given India’s diverse geography, non-windy states will now be able to get wind based power from states that are rich in wind resources.
The competitively discovered price at Rs 3.46 per unit is an outcome of expected optimisation in project cost, machines efficiency and payment counter party risk. The projects are expected to be commissioned in eighteen months. SECI, which conducted the auction, is expected to allow 1,050 MW in place of originally planned 1,000 MW at the cut off price and issue LoI.
Deepak Amitabh, Chairman and Managing Director, PTC India, said, “We are proud to be associated as a nodal trading partner for renewable resources based power generation, which is the energy for the future. We expect the share of renewables in overall power generation to steadily rise in the coming years as more and more solar and wind projects start producing power. The competitively priced wind power will encourage consumers to switch to cleaner sources of energy.”