TPCIL signs 8-year PPA with Telangana power discoms

HYDERABAD: Thermal Powertech Corporation India (TPCIL), which owns and operates a 1,320-megawatt coal-fired power plant in Krishnapatnam in Andhra Pradesh's Nellore district, today said it has signed a long-term power purchase agreement ( PPA) with power distribution companies in Telangana.

Under the PPA, 570 megawatts of power would be sold to the southern and northern power distribution companies of Telangana for a period of eight years, TPCIL said in a statement.

Together with the 500 megawatts of power supplied to the power distribution companies in Andhra Pradesh and Telangana under a 25-year power purchase agreement, TPCIL has secured more than 85 per cent of its net total generating capacity under long-term PPAs, it added.

The approximately $1.5 billion plant completed its first 660-megawatt unit in March 2015 and second 660-megawatt unit in September 2015.

TPCIL CEO Atul Nargund said, "With this PPA, we have achieved our goal of securing at least 85 per cent of our generating capacity on a long-term basis. With this, TPCIL is now eligible for mega power status".