A leading provider of power trading solutions in India, PTC Energy Limited (PEL), has commissioned five wind power projects, in Andhra Pradesh and Karnataka.
The power projects, hold an aggregate capacity of about 238.8 megawatts (MW), and with 50 MW operational capacities of wind power in Madhya Pradesh.
The company’s portfolio of renewable energy projects, has now increased up to 288MW, reports say.
“The capacity commissioned is locationally spread in the southern states, with Andhra Pradesh has nearly 190MW and 50 MW in Karnataka,” the company said.
These wind projects utilize leading edge wind turbine technologies from reputed OEMs like Gamesa, GE, Regen and INOX.
This technology is estimated to provide benefits of economies of size and scale in the fast growing renewable energy market in India.
PEL, Managing Director, Ajit Kumar, said, “This was a challenge given to the company’s team, to implement this capacity by March 31, and the team rose to the occasion successfully.”
PEL, Chairman, Deepak Amitabh, said, “The company has been entrusted with a very important component of PTC Group's business strategy, that of asset creation.”
A second round of equity funding has been provided on the nature of growth capital, during 2016-2017.
Deepak Amitabh said, “We are extremely delighted to see the company execute projects, in adherence to the timelines, and achieve a scale of nearly 6 times the capacity it had, at the beginning of the financial year, 2016-17.
Similar wind power projects that were commissioned are at Bableswar, Vijayapura district in Karnataka; and at Molagavalli in Kurnool district of Andhra Pradesh, with a capacity of 50 MW.
Other wind power projects that were commissioned, were in Andhra Pradesh at Kandimalayapalli in Kadapa district, with 49.3 MW capacity, and 49.5 MW project at Devenkonda in Kurnool district and 40 MW at Payalkuntla in Kadapa district.
Further, the company has already entered into a 25 years long-term power purchase agreements (PPAs) for all of the five projects with respective state distribution companies.
India is the third largest producer of electricity in Asia with an installed capacity, that has increased from 1362 MW in 1947 to about 16,9749 MW as on 31st December 2010.
PTC India Limited (previously known as the Power Trading Corporation (PTC) of India Limited), was established in 1999 to manage power trading, achieve economic efficiency and security of supply and also to develop a vibrant power market in the country.
PEL has been set up as a subsidiary of PTC India Limited, with an aim to develop an asset base taking into its sphere, the business of generation, supply, distribution, transmission and dealing with all forms of energy including import and export of coal, conversion of coal/ fuels into electricity, fuel linkages.
The company will also provide advisory services in the energy sector and energy efficiency.
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