New Delhi: NHPC Limited, India's premier Hydropower utility, has signed a Power Sale Agreement (PSA) with Chhattisgarh State Power Distribution Company Limited (CSPDCL) on Friday at Raipur (Chhattisgarh). As per the agreement, NHPC will supply 400 MW solar power to the state distributing company (CSPDCL) at the tariff of Rs 2.55/kWh for 25 years on a long term basis. With this NHPC shall earn trading margin @ Rs 0.07/kWh during the contract period.
The Power Sale Agreement has been signed by NHPC Limited's General Manager (Power Trading) SP Rathour and CSPDCL's Chief Engineer (Commercial) Manoj Khare in the presence of other officers from NHPC and CSPDCL. The PSA has been signed under the 2000 MW ISTS (Interstate Transmission System) grid-connected Solar Photo Voltaic Projects through NHPC Limited (Intermediary Procurer) under Tariff based Competitive bidding.
Till date, NHPC Limited has signed PSA for the supply of 1,700 MW out of total 2,000 MW Solar Power. PSA for balance quantum of 300 MW with PSPCL is likely to be signed shortly.
NHPC Limited is India's premier Hydropower utility and a Miniratna PSU under the Ministry of Power. As on date, NHPC Limited has become the largest organisation for hydropower development in India, with capabilities to undertake all the activities from conceptualization to commissioning in relation to setting up of hydro projects. NHPC Limited has also diversified in the field of solar and wind-power. The company has an installation base of 7071.2 MW from 24 power stations on ownership basis including projects taken up in a joint venture.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)