State-owned power producer SJVN on Wednesday said it has signed a pact with PTC India to develop products for supplying round-the-clock renewable energy.

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The agreement was signed by SJVN Director (Finance) Akhileshwar Singh and PTC India Director (Marketing) Rajib Kumar Mishra in the presence of SJVN Chief General Manager Rajesh Kumar Gupta and other senior officials, according to a statement issued by SJVN.

"SJVN Ltd has entered into a memorandum of understanding (MoU) with PTC India to collaborate on the development of products to supply RTC (round-the-clock) power.

SJVN Chairman and Managing Director Nand Lal Sharma informed that SJVN and PTC will jointly develop products for supply of renewable power from projects of SJVN bundled with available market capacity for the supply of RTC power to beneficiaries," it said.

PTC will provide portfolio management services to SJVN, Sharma said adding that the primary objective of this MoU is to facilitate the development of energy mix from SJVN's renewable energy projects for RTC power.

PTC will also provide necessary market information in terms of the availability of the merchant power capacity from various sources under the MoU.

In addition to this, PTC will study, explore, prepare and submit a detailed report regarding the supply of power from proposed renewable energy projects of SJVN to potential beneficiaries across India, the chairman and managing director said.