PTC India has signed a memorandum of understanding (MoU) with Solar Energy Corporation of India (SECI) for the sale and purchase of power generated from 3,000 MW of solar projects. The power from these projects will be sold for onward sale on a long term basis for 25 years from the commercial operation date of each project to the state electricity distribution utilities.
Under the MoU, SECI will facilitate development of 3,000 MW of solar projects at various locations on behalf of central public sector units or any other government/private agency and the company will purchase solar power offered by SECI/project developers for onward sale to state utilities at tariffs to be determined by SECI through reverse auction process or any other competitive route.
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.
