Bhutan, through Druk Green Power Corporation, has entered into an agreement with PTC India Limited for the purchase of power from the Indian market during the dry winter season. Bhutan’s power import has been approved by the designated authority for cross-border power trading. Bhutan has also signed an agreement with the Settlement Nodal Agency to settle grid operation charges.
PTC India has been mandated by the Indian government to trade electricity with Bhutan, Nepal and Bangladesh. PTC’s trading activities include long-term trading of power generated by large projects, including renewables, as well as short-term trading resulting from supply and demand mismatches that occur in various regions of the country.
Recently in November 2022, PTC India announced that in response to its expression of interest for procurement of 1,000 MW for onward sale through market-linked renewable energy products, it has received offers for supply of 3,500 MW of renewable energy from 14 producers.
Also, in September 2022, PTC India floated bids for 500 MW of hybrid renewable energy (wind and solar) under tranche-I with a greenshoe option for an additional 500 MW. The expressions of interest were issued to determine the market potential and obtain power from interested hybrid renewable energy suppliers. The company intends to procure 5,000 MW of renewable energy in tranches of 500 MW to 1,000 MW over the period of next 2 to 3 years.