PTC, IIFC join hands to promote power projects
Power trading firm PTC India and state-owned India Infrastructure Finance Company have signed an accord to facilitate development of power projects.
By PTI |
NEW DELHI: Power trading firm PTC India and state-owned India Infrastructure Finance Company have signed an accord to facilitate development of power projects.
Under the memorandum of understanding, IIFC would undertake due diligence and appraisal for financing those projects for which PTC has signed Power Purchase Agreements (PPA) with project developers, a PTC release said.
PTC Chairman and Managing Director T N Thakur and IIFC Chairman and Managing Director S S Kohli signed the MoU on Tuesday, the release said.
PTC is the country's largest electricity trading firm with over 70 per cent market share, while IIFC is an specialised public sector undertaking that promotes, develops and finances infrastructure projects in India.
PTC has so far signed PPAs with project developers aggregating capacity of 6,676 MW and entered into MoUs with private developers for purchase of capacity of more than 17,000 MW, the release said.
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