State-owned NHPC on Tuesday signed a pact with energy buying and selling options firm PTC India for the sale of energy to be generated from the upcoming West Seti & Seti River-6 Tasks in Nepal.
In accordance with the Ministry of Energy press launch, “NHPC Restricted signed a Memorandum of Understanding (MoU) with PTC India Restricted on the market of energy to be generated from upcoming West Seti & Seti River-6 Tasks in Nepal, at the moment at NHPC Company Workplace, Faridabad.”
As per the settlement, PTC shall buy the contracted capability from NHPC from the date of business operation of the above Tasks for onward sale to the State Utilities/Discoms/Bulk Customers on a long-term foundation in India and neighbouring international locations, the ministry’s assertion stated.
PTC shall additionally endeavor to promote any untied capability on a medium/quick time period foundation or on energy exchanges, the discharge talked about.
The settlement was signed by AK Singh, CMD, NHPC, and Dr. Rajib Ok. Mishra, CMD, PTC India Restricted and Harish Saran, Govt Director (Business & Operations), Pankaj Goel, CFO, and Bikram Singh, EVP-Advertising and marketing from PTC India have been additionally current.
Whereas officers comparable to RP Goyal, Director (Finance) Shri Biswajit Basu, Director (Tasks) VR Shrivastava, Govt Director (SBD&C) from NHPC have been additionally current on the signing.
On Tuesday, Shares of NHPC ended over 6 per cent larger to Rs 38.four per share, whereas PTC India share value closed flat within the inexperienced up 0.24 per cent to 84.75 per share on the BSE