Thermal Powertech signs PPA with Telangana discoms.

Thermal Powertech Corporation India Ltd. (TPCIL), which owns and operates a 1,320-megawatt coal-fired power plant at Krishnapatnam in Andhra Pradesh, has signed a long-term power purchase agreement (PPA) with the Telangana power distribution companies.

Under the power purchase agreement, 570 MW of power will be sold to the southern and northern power distribution companies of Telangana for a period of eight years.

Together with the 500 MW of power supplied to the Andhra Pradesh and Telangana power distribution companies under a 25-year power purchase agreement, TPCIL has secured more than 85 per cent of its net total generating capacity under long-term power purchase agreements.

The 1,320-MW, $1.5-billion coal-fired power plant, had completed its first 660-MW unit in March 2015 and second 660-MW unit in September 2015.The plant is efficient and environmentally-friendly compared to conventional coal-fired power plants as it uses supercritical technology.

Atul Nargund, CEO of TPCIL, in a statement said, “With this PPA, we have achieved our goal of securing at least 85 per cent of our generating capacity on a long-term basis. With this, TPCIL is now eligible for mega power status. In addition, operationally the plant is performing well and achieving good plant load factors.”

Thermal Powertech is 67.4 per cent owned by Sembcorp Utilities, a wholly-owned subsidiary of Sembcorp Industries, and 32.6 per cent by Gayatri Energy Ventures, a wholly-owned subsidiary of Gayatri Projects Ltd.

Incorporated in 1998, Sembcorp Industries has over 10,600 MW of gross power capacity.

In India, Sembcorp has over 3,500 MW of power capacity. This includes 2,640 MW in thermal energy and over 900 MW in renewable energy. It owns and operates two supercritical thermal power plants - Thermal Powertech Corporation India and NCC Power Projects, each having a capacity of 1,320 MW, in Andhra Pradesh.

HBL