New Delhi: Electricity distribution companies of four states – Bihar, West Bengal, Telangana and Tamil Nadu – today signed powerpurchase agreements with trader PTC India while seven private generating companies also inked pacts with PTC for sale of 1,900 Mw power under a pilot scheme of the ministry of power.

“The successful bidders included RKM Powergen (550 MW); Jhabua Power (100 MW); MB Power (Madhya Pradesh) (175 MW); SKS Power Generation (Chhattisgarh) (300 MW); Jindal India Thermal Power (125 MW); IL&FS Tamil Nadu Power Company (550 MW) and Jaypee Power Ventures (100 MW),” state-run financier Power Finance Corporation (PFC) said in a statement.

Under the scheme, Bihar will procure 200 Mw power while West Bengal, Telangana and Tamil Nadu will source 200 Mw, 550 Mw and 550 Mw each. Also, Haryana has given its consent to sign PPA for 400 Mw power.

The agreement were signed in the presence of power secretary A K Bhalla, PFC Chairman and Managing Director (CMD) Rajeev Sharma, PTC CMD Deepak Amitabh and officials from discoms. 

The power ministry had in April issued guidelines to facilitate procurement of aggregated power of 2,500 Mw for three years under the pilot scheme for coal-based commissioned power plants.

PFC Consulting, an arm of PFC, was the nodal agency for conducting tariff-based competitive bidding on DEEP e-bidding portal for selection of developers where procurement of 1,900 Mw power was done at a discovered fixed tariff of Rs 4.24 per unit without any escalation for next 3 years, PFC said.

These agreements are expected to lessen the burden on state discoms and lead to efficient utilization of capacities presently un-utilized