May 10, 2012. Essar Energy Plc signed a power purchase agreement (PPA) with Noida Power Company Ltd (NPCL) for 240 MW of contracted capacity from Essar Energy's 600MW coal-fired Tori II power station which is under construction in Jharkhand. The binding PPA was signed by Noida Power Company Ltd with Essar Energy's subsidiary Essar Power Jharkhand Limited (EPJL) and has a 25 year duration, Essar Energy said. The PPA was secured following a competitive bidding process, with supply of power under the terms of the PPA being due to commence from April 2014. Under the terms of the agreement, Essar Energy will supply power at a delivered levelised tariff, including transmission costs, of ' 4.08 per kilowatt hour (approximately 7.6 US cents per kWh), which is the highest long term tariff achieved through competitive bidding in India to date. The agreement is the first PPA that has been signed for the Tori II project. At its 1,200 MW Tori I project, which is also under construction, Essar Energy has already signed two PPAs of 300MW and 450MW, both for 25 years, with the Bihar State Electricity Board.