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ONGC Tripura Power Company Ltd ( OTPC) is in the final stages of clinching a power purchase agreement (PPA) with the government of Myanmar, according to the company's managing director, Satyajit Ganguly.
Ganguly said once the PPA is signed, the company could begin exporting power from November 1, 2015. He was speaking at the Northeast India Infrastructure Conclave 2015, which was organised by the PHD Chamber of Commerce and Industry in Guwahati on Friday. He also disclosed that gas has been discovered in Tripura.
The power export agreement with Myanmar would be for a minimum period of 15 years, Ganguly said, adding that the Central Electricity Regulatory Authority has also been involved in the exercise.
According to Ganguly, power generation is no longer a problem in India. The problems in the sector relate to power pricing and distribution and transmission, he said.
ONGC, IL&FS Energy Development Company Ltd and the Tripura government have formed a special purpose vehicle—ONGC Tripura Power Company (OTPC)—to implement the project.
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