PTC India Receives 3,500 MW Renewable Energy Supply Offers Against 1,000 MW Sought

PTC India, a power trader, said on Tuesday that it received supply offers up to 3,500 MW of renewable energy in comparison to the 1,000 MW it had requested. Around 14 renewable energy producers have submitted the offer.

According to a statement, the response came against the Expression of Interest (EoI), which was for 1,000 MW of procurement through market-linked RE products.

“This is a first of its kind development in the Indian power market wherein a trading licensees intended to purchase renewable power for onward sale through market-linked products. This will lead to significant changes in the present electricity market structure and speed up the renewable energy generation,” it added.

The process was attended by most of the top domestic private players, including Tata Power Renewable Energy Energy (TPREL), Torrent Power. Enel Green, Engie Power and other internationally recognized companies, participated in the process.

“Developers have offered quantum ranging from 100 MW to 500 MW. Since this is a hybrid based procurement (solar and wind energy), many developers have also offered high capacity utilisation factor, which means more renewable energy available for sale in the market. The projects are mainly located in Rajasthan, Gujarat, Madhya Pradesh and Karnataka. Developers have offered to commission the project within a period of 18-24 months,” it added.

PTC is currently evaluating the offers from developers and will likely make a decision on the procurement within 3-4 weeks.

PTC India CMD Rajib K Mishra said, “This is a unique market-linked product being initiated by PTC to encourage renewable energy sale in the exchanges or through any other options without putting any burden or commitment on the State Discoms. This will shape-up the future of the renewable energy market and will contribute to the growth of the sector.”