AMN
Government has launched a Pilot Scheme for procurement of aggregate power of 2500 MW on competitive basis for three years under medium term from commissioned power plants without power purchase agreements. The bids under the scheme will be invited in the first week of May.
The main purpose of the scheme is to revive commissioned power plants which are unable to sell electricity in the absence of valid power purchase agreements. These plants can bid for power supply under the scheme.
Under the scheme a single entity can be allotted maximum capacity of 600 MW. The Scheme assures a minimum off-take of 55 per cent of contracted capacity. The Tariff will be fixed for three years without any escalation.
The Ministry of Power had recently issued the model bid documents, model PAPP and PPSA on 6th of this month. The guidelines for the scheme were issued on 10th of this month.
PFC Consulting Limited, a fully owned subsidiary of PFC Ltd, has been appointed as Nodal Agency and PTC India Limited as the Aggregator. PTC India would sign three-year, Agreement for Procurement of Power with successful bidders and Power Supply Agreement with the Discoms.