PTC India’s Chairman and Managing Director, Rajib Kumar Mishra, announced during the company’s 24th Annual Day that they are planning to offer round-the-clock (RTC) power solutions by combining green energy with thermal power and storage solutions.
“PTC India stands strong and focused on taking up market risks and positions. Focused on crafting innovative solutions and acting as virtual power plants, PTC India aims to provide round-the-clock power offerings by blending renewable energy with thermal generation and storage solutions,” Mishra said in Delhi.
PTC is a public-private partnership that operates with significant participation from major Public Sector Undertakings (PSUs) within the power ministry, serving as its promoters. Its core operations revolve around conducting trading activities, encompassing both long-term trading of power generated from substantial power projects and engaging in short-term trading endeavors.
The share of the promoter companies (POWERGRID, NTPC, PFC & NHPC) is limited to 16 per cent and the balance 84 per cent is owned by financial institutions, large utilities and the public. CMD Mishra further added that innovation has been its driving force. “We leverage advanced data analytics to optimize operations and offer the best solutions”.
The company is the pioneer in the power market in India. It has also been mandated by the government to trade electricity with Bhutan, Nepal and Bangladesh.
PTC India’s consolidated total income stood at Rs 16,002.51 crore last fiscal against Rs 16,879.77 crore in the previous year, while net profit was Rs 507.15 crore during 2022-23 compared to Rs 551.67 crore in the previous fiscal.