Last Updated : Tuesday, December 31, 2019 20:52:37

PTC INDIA wins Bid for Aggregator under Power Ministry’s Pilot Scheme

NEW DELHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update as submitted to the Indian Stock Exchanges, New Delhi headquartered power trading company and a Government of India Enterprise, PTC India Ltd (formerly known as Power Trading Corporation of India Ltd) said of having won the bid for aggregator under Ministry of Power’s Pilot Scheme-II for resolving of stressed thermal assets.

The press-release titled, “PTC India won the Bid for Aggregator under MoP Pilot Scheme-II,” as enclosed with the filing further read that, PTC India Ltd, the leading power trading company, announced its selection as aggregator for Pilot Scheme — II issued by Ministry of Power for resolution of stressed thermal assets.

The scheme is for procurement and supply of 2500 MW power on medium term basis for three year’s period.

The technically qualified bidders PTC and NVVN had participated in the auction process.

PFC Consulting Ltd, which is the Nodal Agency for this scheme, conducted the bid process again on 27th December, 2019.

The earlier bid process for Pilot Scheme — II, issued in Feb, 2019 was cancelled due to lack of response from State Discoms.

It is expected that PFC Consulting Ltd. will complete the bid process for selection of generators by Jan, 2020.

PTC, with its experience in power trading, would endeavor to successfully tie-up power under Pilot Scheme-II at the discovered price.

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