The state-owned power producer Satluj Jal Vidyut Nigam (SJVN) and PTC India have entered into a memorandum of understanding (MoU) to source round-the-clock (RTC) power. The agreement revolves around products for supplying continuous renewable energy.
Renewable energy is the need of the hour as India is trying to reduce its dependency on fossil fuels. Advanced technological developments have already exploited natural resources to a great extent and to save the day, it is high time we start relying upon renewable energy sources.
SJVN finance director, Akhileshwar Singh and PTC India marketing director, Rajib Kumar Mishra signed the contract in the presence of SJVN Chief General Manager Rajesh Kumar Gupta and some other senior officers.
Image: The Economic Times
Nand Lal Sharma, Chairman and Managing Director of SJVN, claimed that the products for the supply of renewable energy will be developed from projects of SJVN, which are overloaded with available market capacity for the supply of RTC power to recipients.
The main goal of the MoU is to back the upcoming development with renewable energy projects for RTC power. PTC would not only provide portfolio management services to SJVN but will also be responsible for essential market information in terms of the availability of the merchant power capacity from several sources under the MoU.
Alongside, PTC will study, explore, prepare and submit an in-depth report concerning the supply of power from proposed renewable energy projects of SJVN to potential receivers across India. Undoubtedly, this merged venture has great potential and could become a brilliant source of renewable energy products in the near future.
Via: The Economic Times