PTC India, Brookfield Renewables sign power purchase agreement

PTC India has announced that it has reached an agreement with Brookfield Renewables for the long-term purchase of 100 MW of solar energy. In Rajasthan’s Bikaner Solar Park, Brookfield Renewables is developing a 400 MW solar power facility.

‘PTC India has executed a Memorandum of Understanding (MoU) with Brookfield Renewables for the purchase of 100 MW of solar power on a long-term basis,’ according to an announcement from PTC India.

On mutual consent between the two parties and at the time the project is commissioned, the agreement contains an option to increase the purchase amount to 200 MW.

The power would be sold by PTC India to different utilities as well as business and industrial customers.

PTC India will give Brookfield Renewables a guaranteed pricing and payment certainty as part of this agreement.

‘This structure, built in partnership with Brookfield, is a first for the Indian electricity industry… In the future, we will scale this structure and use several transactions to reproduce it, according to Rajib K. Mishra, CMD of PTC India who talked to ET.

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