PTC inks pact with IIFC

New Delhi, May 31 (UNI) In order to bridge the demand supply gap in power sector, PTC India Ltd today signed a memorandum of understanding (MoU) with India Infrastructure Finance Company Ltd (IIFC).

Under the agreement, IIFC will undertake the due diligence process and appraisal for financing of power projects where PTC has signed power purchase agreement (PPA) with project developers.

The MoU was signed between PTC Chairman and Managing Director T N Thakur and S S Kohli, IIFC Chairman and Managing Director.

PTC holds a category-F licence for inter-state trading of electricity while IIFC has been established by Government as an independent specialised public sector undertaking, primarily for promoting, developing and financing infrastructure projects in India.

It has signed PPA with project developers aggregating capacity of 6676.3 MW and entered into MoUs with private developers for purchase of capacity of more than 17000 MW.

UNI