PTC India Limited has signed a memorandum of understanding (MoU) with Brookfield Renewables for purchase of 100 MW solar power on a long-term basis.
Notably, Brookfield Renewables is developing a 400 MW solar power project in Bikaner solar park in Rajasthan. The agreement includes an option to increase the power capacity to 200 MW at the time of project commissioning based on mutual confirmation by the two companies. PTC India will market the power to various utilities and commercial and industrial consumers. Further, PTC India will provide Brookfield Renewables with an assured tariff and payment security, under this arrangement.