SJVN signs an MOU with PTC India for development of products to supply Round RTC Power

Shimla: SJVN Limited entered into an MoU (Memorandum of Understanding) with PTC India Limited (formerly known as Power Trading Corporation of India Limited), to collaborate on the development of products to supply Round the Clock (RTC) Power. The MoU was signed by Shri Akhileshwar Singh, Director (Finance), SJVN Ltd, and Dr. Rajib Kumar Mishra, Director (BD & Marketing), PTC India Ltd. in the presence of Shri Rajesh Kumar Gupta, Chief General Manager, SJVN, and other senior officials.

On this occasion Shri Nand Lal Sharma, Chairman & Managing Director, SJVN informed that SJVN & PTC will jointly develop products for supply of Renewable Power from Projects of SJVN bundled with available market capacity for the supply of RTC power to beneficiaries. PTC will provide Portfolio Management Services to SJVN. He further said that the primary objective of this MOU is to facilitate the Development of Energy Mix from Renewable Energy Projects of SJVN for RTC Power.

Sh. Sharma also informed that in terms of the MoU, PTC will provide necessary market information in terms of the availability of merchant power capacity from various sources. In addition to this PTC will also study, explore, prepare and submit a detailed report regarding the supply of power from proposed Renewable Energy projects of SJVN to potential beneficiaries across India.

The government of India has envisaged the vision of Power to All 24X7. Recently in United Nations Climate Change Conference (COP 26), Hon’ble Prime Minister Sh. Narendra Modi stated, India’s intent to generate 500 GW of renewable energy by 2030. Union Minister of Power & NRE, Sh. R.K. Singh is extending great guidance & support to all power sector PSUs to go aggressively in harnessing of Renewable Energy potential to achieve goal of 24X7 affordable and green power.  In line with the target set by the Government of India, SJVN has set its Shared Vision of capacity addition of 5000 MW by 2023, 12000 MW by 2030 & 25000 MW by 2040.