India?s PTC eyeing Indonesian coal firm

Indian Power Trading Corporation (PTC) is exploring opportunities to acquire stake in overseas coal mining companies, primarily in Indonesia to ensure coal supplies for power plants in the country, the Hindu of India reported Friday.

 

"PTC is looking at coal blocks in Indonesia to support Independent Power Producers (IPPs) with long-term imported coal linkage," PTC Vice-President and CFO Deepak Amitabh told reporters in India.

 

Initially, he said PTC was looking at three million tons of coal supplies which would meet the demand for the generation of up to 5,000 MW of power.

 

"We have Power Purchase Agreement (PPA) with power producers totalling 8,000 MW and negotiations for another 16,000 MW are underway," Amitabh said. (*)