PFC Consulting Ltd, a state-owned company, has opened bids for the supply of 4,500 MW of power over five years, beginning April 2023, to various utilities in different states including Delhi, Maharasthra,Madhya Pradesh Tamil Nadu and Gujarat
PFC Consulting, an arm of Power Finance Corporation, floated a request for proposals. It showed that five utilities had expressed interest in procuring up to 3910 MW.
It showed that Gujarat Urja Vikas Nigam Ltd (1000MW), Maharashtra State Electricity Distribution Company Ltd (550MW), Madhya Pradesh Power Management Company Ltd (660MW), New Delhi Municipal Corporation (220MW), and Tamil Nadu Generation and Distribution Corporation Ltd (1500MW) are some of the utilities that expressed interest in the scheme.
PTI was told by an official that more states would join the scheme, so the power supply quantity has been maintained at 4,500 MW.
As a demand aggregator, the PFC Consulting will obtain power supply through competitive bidding based on tariffs.
The supply of power under the power purchase agreement for medium term or five years must begin in April, 2023.
“The authorised representative/utilities has decided to procure electricity from a power generating station that would dedicate a contracted capacity of 4,500 MW for production of electricity and supply thereof for a period of five years through public-private partnership,” it stated.
The deadline for bidding is December 21, 2022. The letter of award for supply power will be sent in January 2023 after the bidding process is completed.
Officials stated that the move would benefit states facing power shortages and help to increase the capacity of generation plants.
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