NHPC to procure 1,000 MW solar power from MPPMCL, signs power sale agreement

NHPC Limited has signed a Power Sale Agreement (PSA) with MPPMCL for procurement of 1,000 MW solar power under the 2,000 MW ISTS grid-connected Solar Photovoltaic Projects
NHPC to procure 1,000 MW solar power from MPPMCL, signs power sale agreement

New Delhi: NHPC Limited, India's premier hydropower company has signed a Power Sale Agreement (PSA) with Madhya Pradesh Power Management Company Limited (MPPMCL) for procurement of 1,000 MW Solar Power at the tariff of Rs. 2.55/kWh on 28.08.2020 at Bhopal (MP) for 25 years on a long term basis. NHPC shall earn trading Margin @ Rs 0.07/kWh during the contract period.

The PSA was signed by NHPC's General Manager (Power Trading) SP Rathour and MPPMCL's Chief General Manager (Commercial-3) Baljeet Singh Khanooja in the presence of MPPMCL 's Managing Director (MD) Akash Tripathi (IAS).

The PSA has been signed under the 2,000 MW ISTS (interstate transmission system) Grid Connected Solar Photo Voltaic projects through NHPC Limited (intermediary procurer) under tariff-based competitive bidding.

NHPC has already signed PSA for 300 MW with Jammu & Kashmir Power Corporation Limited (JKPCL). Thus, NHPC has signed PSA for 1,300 MW Power with State/Discoms out of 2000 MW and PSAs for balance power is likely to be signed shortly.

About MP Power Management Company Limited

In accordance with Govt of Madhya Pradesh decision, the name of MP Power Trading Company Ltd was changed to MP Power Management Company Ltd. The MPPMC was made the holding company for all the DISCOMS of MP. The Registrar of Companies of Madhya Pradesh issued the certificate of incorporation consequent upon change of name on April 10, 2012

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