PTC India has entered into an agreement with Rashtriya Ispat Nigam (RINL) whereby RINL will purchase 25 MW of electricity from IEX through open access. Indian Energy Exchange (IEX) is a power trading platform in which PTC India is among the leading promoters.
RINL has already started buying 25 MW power from the platform with effect from May 14. However, power from PTC India would be bought as and when power will be available below the import cost from the state grid.
PTC India acts as intermediary between buyer and sellers of power. In case of cross-border trading, the company plays the role of a nodal agency. It offers advisory services for setting up independent power producing plants.
