Himachal to earn Rs 1,000 crore by selling surplus power

Shimla May 24 (UNI) PTC India Limited will buy 250 MW of seasonal surplus power from Himachal Pradesh State Electricity Board (HPSEB), helping the state earn a sum of Rs 1,000 crore, PTC's Vice President Rajiv Malhotra today said.

An agreement was signed between PTC and HPSEB for trading available surplus power from June to October, he said, while addressing a press conference here.

Mr Malhotra said PTC was also buying the state government power share from 1500 MW Nathpa Jhakri and NHPC hydroplants and was selling it to contractual clients in the northern states.

The state government has 25 per cent equity in the mega hydro plant and also obtains 12 per cent free power as royalty.

He said the agreement for trading the state power was signed in November, last year and would fetch the state additional revenues of Rs 1,000 crore.

Among the long-term power trading contracts with independent power producers there was one with 80 MW Malana Hydropower generation company of Kullu, he said.

In the upcoming projects, he said PTC had singed 30-year power purchase agreements (PPA's) with Jaiprakash Associates for the 1000 MW Karcham-Wangtoo project and the 70 MW Budhil project in Chamba district.

Overall PPA's with a generation capacity of 4,600 MW in new projects had been signed, he said, adding that among buyers Punjab and Haryana alone accounted for a demand of nearly 2,100 MW.

Mr Malhotra said PTC had made no investments in power projects in Himachal, but had taken up partial equity in the 300 MW coal based Lanco thermal project in Chattisgarh.

Last year, PTC reported a turnover of over Rs 3,100 crore and had a profit of Rs 48 crore.

UNI AS DP MP RK1938