New Delhi: State-run National Hydro Power Corporation Ltd (NHPC) is set to take a final decision in a couple of months on the supply of 2,500 megawatt (MW) through various coal-based thermal power plants for short term at a tariff of Rs 4.41 per unit discovered in a reverse auction.
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NHPC was appointed as an aggregator by Power Finance Corporation Consultancy through e-tendering for Pilot Scheme-II of the power ministry.
What is the scheme about?
NHPC’s job is to facilitate the procurement of power for three years from thermal power plants that are already commissioned and do not have power purchase agreements (PPAs). Since PPA is mandatory for getting coal linkage, these plants are under stress.
“The tariff of Rs 4.41 per unit was discovered under this scheme through e-reverse auction. As many as 15 bidders were finalised under auction at this tariff. We are in the process of finalising quantum of power to be supplied to different states. This would be completed in couple of months,” an official said.
As per the scheme, NHPC is supposed to tie up for supply of 2,500 MW of electricity by September 30.
All the bidders were supposed to match the lowest quote, which in this case was Rs 4.41 per unit. The tendering was done by PFC, which is the nodal agency for this scheme appointed by the Ministry of Power.
Under the auction, Jindal Power seized the highest supply of 315 MW, followed by Korba West Power Company (295 MW), JSW Energy (290 MW), Essar Power MP Ltd (200 MW), Jindal Power (200 MW), DB Power (165 MW) and MB Power Madhya Pradesh (125 MW).