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LONDON (Thomson Financial) – Greenko Group Plc. said it has signed power purchase agreements (PPAs) with PTC India Ltd., formerly known as Power Trading Corporation India Ltd., for the output from two of its power plants. The new PPAs are for power from the Roshni biomass plant, which was acquired by Greenko in June 2007, and the soon-to-be-commissioned Rithwik Power hydro plant. Under the terms of the agreements, Greenko is guaranteed to receive 6 rupees per Kwh for the power supplied from these plants, with a potential further share of the upside should PTC sell the power to the end user at a higher price. This price compares with the contracted rates of up to 3.2 rupees per Kwh being received from the state electricity boards under the current PPAs.

Source CNBC