PTC India selected as aggregator for Pilot Scheme-II by the Ministry of Power for resolution of stressed thermal assets

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

Jan 01, 2020 08:01 IST India Infoline News Service

PTC India Limited announced its selection as aggregator for Pilot Scheme — II issued by the Ministry of Power for resolution of stressed thermal assets. The scheme is for procurement and supply of 2500MW power on medium-term basis for a three year period. The technically qualified bidders PTC and NVVN had participated in the auction process.

PFC Consulting Limited which is the Nodal Agency for this scheme, conducted the bid process again on 27thDec, 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.

Deepak Amitabh, Chairman & Managing Director, PTC India Ltd., mentioned "PTC India Ltd. is committed to address the challenges and create value for all stakeholders. PTC endeavours to meet the dynamic needs of the power sector through its holistic solutions. At the market discovered price, PTC would make every effort to place power with the state Discoms." 

PTC India Ltd ended at Rs56.50 up by Rs1.4 or 2.54% from its previous closing of Rs55.10 on the BSE.
The scrip opened at Rs55.70 and touched a high and low of Rs57.20 and Rs55 respectively. A total of 24,836 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,672.46cr.

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