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PTC sings $1.8 billion power supply deal with Bangladesh

Power trading solution provider PTC India said Wednesday it has signed two new power purchase agreements (PPAs) with Bangladesh Power Development Board (BPDB) for supplying 200 MW power to that country.

PTC India is already supplying 290 MW power to Bangladesh and signed Tuesday two new agreements for 200 MW on short and long-term basis for 15 years, a PTC statement said.

The short-term power for 200 MW is from power pool of West Bengal State Electricity Distribution Company Ltd (WBSEDCL).

The long-term power will be supplied through imported coal project of Meenakshi Energy Ltd, according to a report by The Economic Times.

With this new addition in cross-border supply, PTC will add more than 1.5 billion units to its existing portfolio of 7 billion units power supply to neighbouring countries (Bangladesh, Bhutan and Nepal), it added.

The transaction is expected to give export earning of US $ 1.8 billion over its contract period.

Deepak Amitabh, chairman and managing director, PTC India, said in the statement, “This transaction is another step towards a regional market for power that will aid closer cooperation among our neighbours for energy security.”

 

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