The Government has launched a pilot scheme to procure 2500 MW power for 3 years under medium term agreements. According to an official statement from PFC this power will be procured from generators with commissioned projects but without Power Purchase Agreements (PPAs).
The statement further added that under pilot scheme, single entity can be allotted maximum capacity of 600 MW. The scheme assures a minimum off-take of 55 per cent of contracted capacity. The tariff will be fixed for three years without any escalation.
Under the scheme bids will be invited by PFC Consulting Limited in first week of May 2018. The bidding will be conducted on the DEEP e-Bidding Portal and with L1 matching for bucket filling without reverse auction.
PTC India Limited has been appointed as the Aggregator and PFC Consulting Limited as Nodal Agency. PTC India would sign three-year (mid-term) Agreement for Procurement of Power with successful bidders and Power Supply Agreement with the Discoms.