JKHCL signs PPA with PTC India for sale of 704 MW

New Delhi, Mar 23 (UNI) Jaypee Karcham Hydro Corporation Ltd (JKHCL) today said it has signed a Power Purchase Agreement (PPA) with PTC India Ltd for sale of 704 MW of power to be generated by its 1000 MW Karcham Wangtoo Hydroelectric Project.

JKHCL has agreed to sell 704 MW from Karcham Wangtoo Hydroelectric Project to PTC India Ltd for a period of 35 years.

The PPA envisages payment of tariff to JKHCL as per the CERC regulations.

After sale of 704 MW to PTC India Ltd and providing for 120 MW free power to Himachal Pradesh for first 12 years and 180 MW thereafter, JKHCL will be left with 176 MW of power for the first 12 years and 116 MW of power from the 13th year onwards to be sold as Merchant Power on short term basis.

The 1000 MW Karcham Wangtoo Hydroelectric Project, to be build at an estimated cost of Rs 5,600 crore, is the largest private sector hydro power initiative on Build, Own and Operate (BOO) basis in the country.

The project is scheduled to be commissioned in 2011 and will generate approximately 4 billion units of electricity annually.

Speaking on the occasion, Jaiprakash Associates Ltd (JAL) MD Manoj Gaur said that while the 300 MW BASPA-II Hydroelectric Project in Himachal Pradesh, a project on BOO basis, is already operational since June 2003, 400 MW Vishnuprayag Hydroelectric Project in Uttaranchal is expected to commence commercial production from April 2006 and would generate approximately 2 billion units of electricity annually.

JKHCL is a 100 per cent subsidiary of the Rs 3,000 crore construction and cement major Jaiprakash Associates Ltd.

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