Power trading solutions provider PTC India Ltd has signed a memorandum of understanding (MoU) with Brookfield Renewable to purchase 100 MW of solar power on a long-term basis. It intends to sell this power to various utilities and commercial and industrial consumers.
Brookfield Renewables is developing a 400 MW solar power project in Bikaner solar park of Rajasthan.
Its agreement with PTC includes an option to increase the power supply to 200 MW at the time of project commissioning if mutually agreed upon by both parties.
The trading activities undertaken by PTC include long-term trading of power generated from large power projects, including renewables, as well as short-term trading arising as a result of supply and demand mismatches, which inevitably occur in various regions of the country.
Brookfield Renewable’s Indian portfolio consists of 1,003 MW of capacity, comprising five wind energy facilities with an aggregate capacity of 311 MW and 17 solar facilities with an aggregate capacity of 692 MW. These operating assets are spread across seven Indian states. Most recently, it commissioned a 445 MW solar power project in Rajasthan which has a long-term offtake agreement with one of India’s largest power utility companies. Brookfield Renewable’s near-term development pipeline in the country is currently 1,300 MW.
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