PSPCL terminated Power Purchase Agreement for non generation
KI Singh/ royalpatiala.in/ Chandigarh
Punjab State Power Corporation Limited has terminated its Power Purchase Agreement (PPA) with Punjab Biomass Power Ltd., Village Bhagaura, Sub-Tehsil Ghanour,Tehsil Rajpura, District Patiala
Punjab State Power Corporation Limited had sign an agreement of Power Purchase, from Punjab Biomass Power Limited 12 MW plant set up by the firm on a Build, Own, and Operate (BOO) basis. The Power Purchase Agreement has been signed for 20 years from the date of commencement of operations. The project also helped PSPCL in meeting its renewable purchase obligations (RPO) requirements.
Before terminating the PPA with Punjab Biomass Power Limited, Punjab State Power Corporation Limited has issued a notice of non generation of any electric power after June 29, 2018. It also states that “an energy bill of Rs 15.26 lacs is also pending for the month of October 2018”. It further states that “when a fuel checking committee of PSPCL visited your plant on January 11, 2019, the plant was found abandoned condition.”
PSPCL has also sent a default notice as per clause 24.3.0 of PPA, through registered post at their registered address, mails but were received back and no response through email as well. PSPCL has last time intimated the company on June,14, 2019 “to cure the default and resume supply to PSPCL with one month or the PPA will be terminated”. After getting no response it terminated the PPA and sent the termination notice on their registered address and email. But termination notices were received back by PSPCL. So, today PSPCL finally terminated the PPA without recovering the balance energy bill of Rs 15.26 lacs along with other dues.
Punjab Biomass Power Limited is a Public incorporated on 08 December 2005. It is classified as Non-govt Company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 400,000,000 and its paid up capital is Rs. 394,688,352. It is involved in Manufacture of gas; distribution of gaseous fuels through mains set up Biomass Power plant at Village Bhagaura, Sub-Tehsil Ghanour,Tehsil Rajpura, District Patiala has a Head Office at D-73/1, TTC, Industrial Area, MIDC Turbhe,Navi Mumbai .
