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. The Ministry Of Power had recently issued the model bid documents, model PAPP and PPSA on 6th April 2018. The Guidelines for the said scheme were issued on 10th April 2018.
PTC 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 off-take of 55 percent of contracted capacity. The Tariff will be fixed for three years without any escalation.
This scheme is expected to revive the power demand which has affected the generators not having Power Purchase Agreements.