SJVN, PTC In Tie-up For RTC Projects

SJVN Limited has entered into a MoU (Memorandum of Understanding) with PTC India Limited (formerly known as Power Trading Corporation of India Limited), to collaborate on the development of products to supply Round the Clock (RTC) Power.

The MoU was signed by  Akhileshwar Singh, Director (Finance), SJVN Ltd and Dr. Rajib Kumar Mishra, Director (BD & Marketing), PTC India Ltd. in the presence Rajesh Kumar Gupta, Chief General Manager, SJVN Limited and other senior officials. The tie-up is yet another case of public sector units joining hands in the renewable space. In this case, renewable energy that can provide power round the clock is a huge emerging opportunity, and future bids for projects will be having a high share of such projects

On this occasion Nand Lal Sharma, Chairman & Managing Director, SJVN informed that SJVN & PTC will jointly develop products for supply of Renewable Power from Projects of SJVN bundled with available market capacity for supply of RTC power to beneficiaries. PTC will provide Portfolio Management Services to SJVN. He further said that the primary objective of this MOU is to facilitate Development of Energy Mix from Renewable Energy Projects of SJVN for RTC Power.

Sharma also informed that in terms of the MoU, PTC will provide necessary market information in terms of availability of merchant power capacity from various sources. In addition to this PTC will also study, explore, prepare and submit detailed report regarding supply of power from proposed Renewable Energy projects of SJVN to potential beneficiaries across India.

With a 500 GE target for renewable energy set by the Government of India for 2030, SJVN has set its Shared Vision of capacity addition of 5000 MW by 2023, 12000 MW by 2030 & 25000 MW by 2040. Other PSU energy majors have also ramped up their targets, notably NTPC, which is going for 60 GW by 2032.