NTPC to earn Rs 18,343 crore from Bangladesh power sales

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NTPC to earn Rs 18,343 crore from Bangladesh power sales

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The company’s power trading subsidiary, NTPC Vidyut Vyapar Nigam, has emerged as the lowest bidder for supply of 300 Mw power to Bangladesh for 15 years

New Delhi: State-owned power generator NTPC will earn Rs 18,343 crore over 15 years through 2033 by selling electricity to Bangladesh, said power and renewable energy minister R K Singh.

The company’s power trading subsidiary, NTPC Vidyut Vyapar Nigam (NVVN), has emerged as the lowest bidder for supply of 300 Megawatt (Mw) power to Bangladesh for 15 years, Singh said in a written reply in Parliament today.

Under a short-term agreement, NVVN would earn about Rs 917 crore per annum by supplying power at Rs 3.8 per unit between 1 June 2018 and 31 December 2019. The firm will also supply electricity under a long-term deal at Rs 5.3 per unit to Bangladesh, which would fetch Rs 1,259 crore every year between 1 January 2020 and 31 May 2033.

NVVN was incorporated in 2002 to tap the potential of power trading in India and promote optimum capacity utilisation of generation and transmission assets. The company traded 15,681 million units of power apart from Renewable Energy Certificates (RECs) equivalent to 68 million units of power in 2016-17.

India currently supplies around 660 Mw power to Bangladesh and plans to increase the volume to 840 Mw after completion of additional transmission links, Singh wrote in a written reply in Parliament in March.