NTPC, ONGC to form a joint venture company to promote renewable and new energy
The JVC has been formed through their Green Energy Subsidiaries – NTPC Green Energy Ltd (NGEL) and ONGC Green Energy Ltd.
State-run power major NTPC’s trading arm NVVN will begin power supply of 300 MW to Bangladesh from midnight Sunday.
“The 300 MW power supply to Bangladesh by the NVVN will commence from 00:00 hrs of 10th September 2018,” NTPC said in a statement.
NTPC Vidyut Vyapar Nigam Limited (NVVN) is a wholly owned subsidiary of NTPC Limited.
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According to the statement, NVVN signed a Power Purchase Agreement (PPA) with Bangladesh Power Development Board (BPDB) on 6 September 2018 at Dhaka for supply of 300 MW power from Damodar Valley Corporation (DVC) and back to back agreement has also been signed with the DVC.
The company said the testing of additional 500 MW Baharampur (India) Bheramara (Bangladesh) High Voltage Direct Current (HVDC) link has been completed. This will be used to supply power to Bangladesh.
BPDB had invited bids for buying 500 MW power from Indian firms under short-term (June, 1 2018 –December 31, 2019) and long-term (January 1, 2020 – May, 31, 2033) timeframes.
NVVN had emerged as the successful bidder (L1) for both short-term and long-term segments for supply of 300 MW power.
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