- The Government kicks off a Pilot Scheme for Procurement of Aggregate Power of 2500 MW on the competitive basis for 3 (three) years under medium term i.e. from generators with commissioned projects but without Power Purchase Agreement. Power Ministry had recently issued the model bid documents, model PAPP and PPSA on April 6, 2018. The Guidelines for the said scheme was issued on April 10, 2018.
- PFC Consulting Limited (A wholly owned subsidiary of PFC Ltd) has been appointed as Nodal Agency and PTC India Limited as the Aggregator.
PTC India would sign three-year (mid-term) Agreement for Procurement of Power with successful bidders and Power Supply Agreement with the Discoms
- Under the scheme, a single entity can be allotted maximum capacity of 600 MW. The Scheme assures a minimum offtake of 55% of contracted capacity. The Tariff will be fixed for three years without any escalation.
- PFC Consulting Limited is in process of inviting the bids in the first week of May 2018 under the scheme. The bidding will be conducted on the DEEP e-Bidding Portal and with L1 matching for bucket filling without reverse auction.
It is expected this scheme help to revive the power demand which has affected the generators not having Power Purchase Agreements.