PTC India Ltd, the leading provider of power trading solutions in India, has entered into an agreement with N-Side, Belgium, to work on developing a predictive solution for the Indian power markets.
N-Side accelerates the transition towards renewables and electrification by enabling grids and market players to make better, faster, and safer decisions with machine learning and mathematical optimization technologies.
The partnership with N-Side is a part of PTC’s long-term strategy to position itself as a technology-enabled solutions provider in the electricity value chain.
PTC is building a portfolio of forecasting tools across various tenors to forecast demand and prices in the electricity markets. This is in addition to the in-house PTC Analytics Lab that had been recently set up to generate proprietary analysis and insights for use by PTC and its clients.
The evolving Indian power market in which the behavior of the market participants resulted in heightened volatility recently has validated the need for market makers to equip themselves with tools and solutions to support their decision-making.
“The participation in the markets of the future would require a core competency of data analytics in all aspects involving descriptive, predictive, and prescriptive analytics, and PTC is well on its journey to reposition itself as a technology-enabled market maker,” said Rajib K Mishra, CMD (addl. charge), PTC India Ltd.
The Government of India has also mandated PTC to trade electricity with Bhutan, Nepal, and Bangladesh. The trading activities undertaken by PTC include long-term trading of power generated from large power projects, including renewables, and short-term trading arising from supply and demand mismatches, which inevitably occur in various regions of the country.
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