Pragati Power Corporation Ltd (PPCL)

Name

Pragati Power Corporation Ltd (PPCL)

Legal name

Pragati Power Corporation Ltd

Website

https://ipgcl-ppcl.nic.in

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

101–250 employees

Short description

Pragati Power Corporation Ltd (PPCL) is a Delhi Government-owned power generation utility operating gas-based CCGT stations including the 330 MW Pragati Power Station and the 1500 MW Pragati-III at Bawana, supplying electricity under regulated PPAs to Delhi, Haryana, and Punjab.

Ownership category

akta.pro rank

Product category

Power Generation Services

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

PPA Origination, Structuring & Offtake Contracting (Physical/Financial, Sleeves) (EUAMAMAD)

Keywords

• Power generation services
• Gas turbine generation
• Electricity supply
• State power utility
• Bulk power supply

Headquarters

HQ city

Delhi

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Power Generation and Supply: PPCL generates electricity through its gas-based power stations and supplies power under long-term Power Purchase Agreements (PPAs) with state electricity distribution companies. Revenue is derived from capacity charges and energy charges as per regulated tariff frameworks. The company supplies 10% power from Pragati III project to Haryana and Punjab under bilateral PPAs.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Pragati Power Corporation Ltd (PPCL) generates electricity through gas-based combined cycle gas turbine (CCGT) power stations and supplies bulk power under long-term Power Purchase Agreements (PPAs) to state electricity distribution companies serving Delhi, Haryana, and Punjab. The company owns and operates Pragati Power Station (330 MW) and the 1500 MW Pragati-III project at Bawana, and holds equity in the 1500 MW Indira Gandhi Super Thermal Power Station at Jhajjar through a joint venture. Revenue is earned through regulated capacity charges and energy charges as per the cost-of-service tariff framework.

Product overview

Pragati Power Corporation Ltd (PPCL) is a state-owned power generation utility operating under the Government of National Capital Territory of Delhi (GNCTD). The company operates a portfolio of gas-based and thermal power stations including Pragati Power Stations (PPS-I at Indraprastha and PPS-III at Bawana), Rajghat Power House, and Indraprastha Gas Turbine Power Station. PPCL manages power generation projects including the 1500 MW Pragati-III Combined Cycle Gas Turbine project at Bawana and has equity participation in the 1500 MW Indira Gandhi Super Thermal Power Station at Jhajjar. The company has implemented SAP ERP (PARIVARTAN) for operational transformation and maintains 100% fly ash utilization for environmental sustainability. PPCL also executes Power Purchase Agreements (PPAs) with neighboring states for power sharing.

Differentiator

Problem solved

Functional benefit

Products and services

• Pragati Power Station (PPS-I)
• Pragati-III Power Project at Bawana
• Pragati-II Power Project at Bamnauli
• Indira Gandhi Super Thermal Power Station at Jhajjar 1500 MW coal-based super thermal power project at Jhajjar, Haryana, established by Aravali Power Company Pvt. Ltd. (joint venture of NTPC, IPGCL, and HPGCL at 50:25:25 equity). Delhi receives 750 MW from this project.
• Indraprastha Gas Turbine Power Station
• Rajghat Power House
• Fly Ash Utilization

Quantifiable outcome

• Pragati Power Station achieved 100.4% PLF during January 2005, the highest among comparable gas power stations
• +2 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Ten partnerships are on record, tiered strategic and core.

• NICSI (National Informatics Centre Services Inc.)strategicImplementation/ SI/ Consulting Partner · 9 February 2009IPGCL-PPCL launched Project PARIVARTAN with NICSI for implementing SAP-ERP system. The turn-key project was launched by Sh. Rajendra Kumar, Chairman (IPGCL-PPCL) in presence of MD(NICSI) and MD(SAP).
• SAP IndiastrategicTechnology or Integration · 9 February 2009SAP India provided the enterprise software solution for PARIVARTAN ERP implementation covering Material Management, Plant Maintenance, Finance, Human Resource, Project Systems and Business Intelligence modules.
• Haryana Power Purchase CentrecoreChannel Partner/ Reseller/ Distributor · 24 September 2008PPCL executed Power Purchase Agreement with Haryana Power Purchase Centre to supply 10% power from the upcoming Pragati III Power Project. This is a joint forum established for procuring power for Haryana state.
• Punjab State Electricity BoardcoreChannel Partner/ Reseller/ Distributor · 24 September 2008PPCL executed PPA with Punjab State Electricity Board for supplying 10% power from Pragati III Power Project to Punjab state.
• BHEL (Bharat Heavy Electricals Limited)coreImplementation/ SI/ Consulting Partner · 1 March 2008EPC (Engineering, Procurement and Construction) contract awarded to BHEL for setting up the 1500 MW Pragati III Power Project at Bawana. BHEL is executing the turn-key project for construction of the gas-based combined cycle power plant.
• GAIL India LimitedcoreStrategic or Co-development Partner · 9 October 2007Gas Sale Agreement signed between PPCL and GAIL India Limited for 1500 MW (Nominal) Pragati III Power Project at Bawana. GAIL is the gas supplier/off-taker for the project.
• IOC Limited (Indian Oil Corporation Limited)coreStrategic or Co-development Partner · 9 October 2007Gas Sale Agreement signed between PPCL and IOC Limited for 1500 MW Pragati III Power Project at Bawana. IOC is an off-taker in the gas supply agreement.
• BPCL (Bharat Petroleum Corporation Limited)coreStrategic or Co-development Partner · 9 October 2007Gas Sale Agreement signed between PPCL and BPCL for 1500 MW Pragati III Power Project at Bawana. BPCL is an off-taker in the gas supply agreement.
• Aravali Power Company Pvt. Ltd. (Joint Venture: NTPC, IPGCL, HPGCL)coreStrategic or Co-development Partner · 7 October 2007Aravali Power Company Pvt. Ltd. is a joint venture of NTPC Ltd. (50%), IPGCL (25%), and HPGCL (25%) established for developing Indira Gandhi Super Thermal Power Station at Jhajjar. Power generated is shared equally by Delhi and Haryana (750 MW each).
• Yamuna Coal Co. Pvt. Ltd. (Joint Venture: HPGCL & IPGCL)strategicStrategic or Co-development PartnerJoint venture company formed by HPGCL and IPGCL for coal block development. Mara-II Mahan Coal Block in Singrauli, Madhya Pradesh has been allocated jointly. This joint venture facilitates coal mining for pithead-based power station development.

Scale indicators6 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Torrent Power Limited: Privately owned integrated power player in India with generation (gas, coal, renewables), transmission and distribution in Gujarat, Maharashtra, and now through acquired franchise areas. Comparable on gas-based CCGT generation and long-term PPAs at the genco level, but with significant private efficiency and broader geographic reach.
• Damodar Valley Corporation (DVC): Central-government-owned multi-state power utility operating thermal and hydro generation across Jharkhand and West Bengal. DVC is comparable as a state-operated generation utility with regulated tariff structure, long-term PPAs with state DISCOMs, and ISO/management-system certifications.
• NTPC Limited: India's largest state-owned power generator (~75+ GW installed capacity across thermal, gas, hydro, nuclear and renewables) and a JV partner in Aravali Power. NTPC compares on government ownership, regulated PPA revenues, and large-scale gas/coal generation, but operates across a far broader portfolio and geography.

Regional players

• Tata Power Delhi Distribution Ltd (TPDDL): Licensed distribution licensee for North & North-West Delhi that procures a substantial portion of its power from PPCL and IPGCL. While TPDDL operates in distribution rather than generation, it is the largest single offtake counterparty for PPCL in Delhi and uses the same regulatory/PPAs framework.
• Maharashtra State Power Generation Company (MAHAGENCO): Maharashtra government's state-owned generation company operating thermal, gas and hydro plants serving Maharashtra DISCOMs under long-term PPAs. Comparable in technology mix (gas + coal), state-owned structure, and regulated tariff revenue model.
• APGENCO (Andhra Pradesh Power Generation Corporation Ltd): Andhra Pradesh state-owned generation company with thermal, hydro and renewable assets supplying the state's DISCOMs. Comparable as a state-level genco with diversified generation portfolio and regulated offtake structure, though in a different geography.
• Gujarat State Electricity Corporation Ltd (GSECL): Wholly state-owned generation arm of Gujarat with a portfolio of thermal, gas and renewable stations supplying the state's DISCOMs under regulated PPAs. Comparable as an Indian state-level genco operating a mixed fossil/renewable fleet with central-government-mandated emissions upgrades.
• Karnataka Power Corporation Ltd (KPCL): Karnataka state-owned genco operating thermal, gas, hydro and renewable stations serving the state's distribution companies. Comparable scale, state-owned structure, and PPAs with state DISCOMs, though primarily in southern India.

Direct peers

• Aravali Power Company Pvt. Ltd. JV of NTPC, IPGCL and HPGCL (50:25:25) established to build and operate the 1,500 MW Indira Gandhi Super Thermal Power Station at Jhajjar. PPCL holds a 25% indirect stake via IPGCL, and the JV shares generation with Delhi and Haryana, making it directly comparable in scale and offtake structure.
• Indraprastha Power Generation Company Ltd (IPGCL): IPGCL is PPCL's sister state-owned genco, also under GNCTD, operating gas and thermal stations in Delhi with installed capacity of 994.5 MW. It shares the same parent, technology profile, customer base (Delhi DISCOMs), and is subject to the same merger process announced by Delhi government.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pragati-power-corporation-ltd-ppcl-

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pragati Power Corporation Ltd (PPCL)