India’s state-owned NHPC Limited signed a memorandum of understanding with energy trading solutions company PTC India Limited for the sale of power to be generated from the proposed 750 MW West Seti and 450 MW Seti River-6 projects in Nepal.
The MoU was signed by Shri A.K. Singh, CMD, NHPC and Dr. Rajib K. Mishra, CMD, PTC India Limited. On this occasion, Shri R.P. Goyal, Director (Finance) Shri Biswajit Basu, Director (Projects), Shri V.R. Shrivastava, Executive Director (SBD&C) from NHPC and Shri Harish Saran, Executive Director (Commercial & Operations), Shri Pankaj Goel, CFO and Shri Bikram Singh, EVP-Marketing from PTC India were also present.
As per the MoU, PTC shall purchase the Contracted Capacity from NHPC from date of commercial operation of above Projects for onward sale to the State Utilities/Discoms/Bulk Consumers on long term basis in India and neighboring countries. PTC shall also endeavor to sell any untied capacity on medium/short term basis or on power exchanges.