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Agreements signed for 1900 MW capacity under aggregated power procurement scheme

New Delhi: A major milestone in the evolution of the medium term market for power was achieved on 29th October 2018 with the signing of agreements for 1900 MW capacity under Aggregated Power Procurement Scheme on Medium Term basis with PFC Consulting Limited as Nodal Agency and PTC India Ltd. as Aggregator.

The PPAs are expected to lessen the burden and would lead to efficient utilization of capacities of some of the coal-based stressed power plants. This scheme endeavours to achieve a balance in the allocation of risk-reward to the transacting parties.

Ministry of Power in April 2018 had issued Guidelines for a pilot scheme to facilitate aggregation of procurement of power (2500 MW for 03 years) from commissioned coal-based power plants through competitive bidding.PFC Consulting Limited conducted theBid Process for selection of capacity on DEEP e-bidding Portal from different projects.

Subsequent to the bidding process tariff was discovered as Rs. 4.24 per unit and projects with aggregate capacity of 1900 MW were declared as the successful bidders. 

The agreements under the scheme were signed with the successful bidders and procuring DISCOMson 29th Oct 2018.

The seven successful bidders are -

RKM Powergen (550 MW),

Jhabua Power Ltd. (100 MW),

MB Power Ltd. (175 MW),

SKS Power (300 MW),

Jindal India Thermal Power Ltd. (125 MW),

IL&FS Energy (550 MW),

JP Nigrie (100 MW)

The procuring DISCOMs are - Telangana and Tamil Nadu for 550 MW each, West Bengal and Bihar for 200 MW each while Haryana has consented to sign for 400 MW

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