State-owned NHPC on Tuesday signed a pact with power trading solutions company PTC India for the sale of power to be generated from the upcoming West Seti & Seti River-6 Projects in Nepal.
According to the Ministry of Power press release, “NHPC Limited signed a Memorandum of Understanding (MoU) with PTC India Limited for sale of power to be generated from upcoming West Seti & Seti River-6 Projects in Nepal, today at NHPC Corporate Office, Faridabad.”
As per the agreement, PTC shall purchase the contracted capacity from NHPC from the date of commercial operation of the above Projects for onward sale to the State Utilities/Discoms/Bulk Consumers on a long-term basis in India and neighbouring countries, the ministry’s statement said.
PTC shall also endeavor to sell any untied capacity on a medium/short term basis or on power exchanges, the release mentioned.
The agreement was signed by AK Singh, CMD, NHPC, and Dr. Rajib K. Mishra, CMD, PTC India Limited and Harish Saran, Executive Director (Commercial & Operations), Pankaj Goel, CFO, and Bikram Singh, EVP-Marketing from PTC India were also present.
While officials such as RP Goyal, Director (Finance) Shri Biswajit Basu, Director (Projects) VR Shrivastava, Executive Director (SBD&C) from NHPC were also present at the signing.
On Tuesday, Shares of NHPC ended over 6 per cent higher to Rs 38.4 per share, while PTC India share price closed flat in the green up 0.24 per cent to 84.75 per share on the BSE