Lucknow: Madhya Pradesh Power Management Company Ltd (MPPMCL) and UP Power Corporation Ltd (UPPCL) have signed a memorandum of understanding to cooperate in power procurement and medium-term power banking, using the contrasting seasonal demand patterns of the two states.The agreement was signed by MPPMCL chief general manager (non-conventional energy) GS Khanooja and UPPCL chief engineer (PPA) Manish Dwivedi.Under the proposed framework, the states will begin the process of procuring 2,000 MW of peak power capacity through competitive bidding. MP generally records its highest demand during the rabi season from Oct-Mar, while UP witnesses peak demand during the kharif and summer months from Apr-Sep.The complementary demand cycles could enable better utilisation of generation capacity, reduce procurement costs and improve resource planning. The initiative, supported by consultants Mercados, is expected to attract investments of around Rs 10,000 crore in the power and renewable energy sectors.The states will also explore firm power banking arrangements to improve grid flexibility, energy security and renewable energy integration.
