Enercon and Power Trading Corporation India sign PPA for wind energy

Enercon (India) Ltd (EIL), a leading company in the field of wind energy and a subsidiary of an international wind energy giant Enercon GmbH, has signed a contract with Power Trading Corporation of India Ltd (PTC) for an innovative standby power purchase agreement (PPA). The PPA would be applicable for its projects coming up in the States of Rajasthan, Karnataka and/or Andhra Pradesh. Each project is designed to supply 126 million units of electricity to the local grid. Continuing in its quest to create and expand a power market within the country, PTC would be signing a PPA with EIL as a sequel to this contract.

This innovative PPA would be operative whenever there is any default by the primary buyer(s) of wind energy. This milestone agreement would help in attracting financing wind energy projects from the institutions. The projects are based on sound commercial principles and will provide non-polluting green power to utilities. This is the first foray of PTC into the promising wind power market and its success will pave the way for productive utilization of the wind energy potential in the country, which is estimated at about 45,000 MW, a press release said. The Enercon Group is a pioneer in the gearless wind energy converters. The group operates in 29 countries and has a global installation base of 5700 MW. PTC, a pioneer and a leader in power trading in India, has been creating innovative concepts and deals which further the cause of a commercially viable electricity market within the country and pave the way for a brighter tomorrow, the release added.