PTC India commences commercial sale of Power from Industrial Waste Heat Recovery

PTC India Ltd has announces the commencement of Long Term Commercial sale of Power generated from Industrial Waste Heat Recovery. The source of power is the power plant of M/s. Goa Energy Pvt Ltd ("GEPL"), a Company belonging to Videocon Group. GEPL has set up a power plant, with a total capacity of 30MW. The plant achieved Commercial Operation on June 01, 2007. The Company had entered into a Power Purchase Agreement (PPA) with GEPL for purchase of entire saleable Energy under Power agreement between GEPL and SGL, for a period of 25 years.

This is the first long term Power Purchase arrangement for sale of power from industrial waste heat recovery. The success of this transaction augers well for the development of the power market in the country.

The stock closed the day at Rs.62.50, down by Rs.1.60 or 2.50%. The total traded quantity was 114220 compared to 2 week average of 331164. The stock hit an intraday high of Rs.65.45 and low of Rs.62.10.

Source : Equity Bulls

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