New Delhi: PTC India Limited is planning to provide round-the-clock (RTC) power offerings by "blending" green energy with thermal, its CMD Rajib Kumar Mishra has said.
The offerings will also include storage solutions, the official made the remarks at the company's 24th Annual Day in the national capital.
"PTC India stands strong and focused on taking up market risks and positions. Focused on crafting innovative solutions and acting as virtual power plants, PTC India aims to provide round-the-clock power offerings by blending renewable energy with thermal generation and storage solutions," Mishra said on Friday.
PTC is a public-private partnership with major PSUs of the power ministry as promoters. It undertakes trading activities that include long-term trading of power generated from large power projects as well as short-term trading.
The CMD further said, "that innovation has been our driving force. We leverage advanced data analytics to optimize operations and offer the best solutions."
The company is the pioneer in the power market in India. It has also been mandated by the government to trade electricity with Bhutan, Nepal and Bangladesh.
PTC India's consolidated total income stood at Rs 16,002.51 crore last fiscal against Rs 16,879.77 crore in the previous year, while net profit was Rs 507.15 crore during 2022-23 compared to Rs 551.67 crore in the previous fiscal.
As per its website, the share of the promoter companies (Power Grid, NTPC, PFC & NHPC) is limited to 16 percent and the balance 84 percent is owned by financial institutions, large utilities and the public.
PTC India Limited was incorporated in April 1999 out of the need for an institution that would provide credit risk mitigation to private power project developers. At a point in time when no private player was willing to venture into this arena, the government set up the company.