PTC India bags order worth Rs 75 crore from EESL

The leading provider of power trading solutions in India, PTC India Ltd, announced that it has won consulting projects worth Rs 75 crore from its long-term associate-Energy Efficiency Services Limited (EESL), an energy service company of Government of India (GoI).

In a BSE filing released on Friday after market hours, the energy company said that after winning this order, PTC India will now manage EESL’s flagship Street Light National Program (SNLP) in Gujarat, Maharashtra, Bihar, Jammu & Kashmir and West Bengal. Except for Gujarat, PTC was the lowest bidder of all the above mentioned states.

Nevertheless, PTC is already offering EESL services under SNLP to a few states like Rajasthan, Haryana, Uttarakhand and Andhra Pradesh.

PTC India was incorporated in 1999 to undertake trading of power for achieving economic efficiency in the country. Meanwhile, EESL is a Super-Energy Service Company (ESCO), which enables consumer, industry and government to effectively manage their energy needs through energy efficient technologies. The company is a joint venture of Ministry of Power and four reputed public-sector undertakings namely, NTPC, Power Finance Corporation, REC and POWERGRID.

At the time of market closing on Monday, the stock of PTC India Ltd was trading at Rs 42.35, down by 5.89 per cent against its previous close of Rs 45.00 on BSE.