The company received offers from 14 energy producers
Power trader PTC India on Tuesday said it has received supply offers to the tune of 3,500 MW renewable energy against 1,000 MW the company had sought.
The company received offers from 14 renewable energy producers.
The response has come against its Expression of Interest (EoI) for procurement of 1,000 MW for onward sale through market-linked RE products, the company said in a statement.
“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.
Most of the leading domestic private players, including Tata Power Renewable Energy (TPREL) and Torrent Power participated in the process. Besides, many internationally renowned companies such as Enel Green, Engie power, etc. have also shown interest in the EoI process, the power trader said.
“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 (CUF), 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.
The offers received from the developers are currently under evaluation and PTC is likely to take a call on the procurement in 3-4 weeks.
PTC India CMD (addl. charge) 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.”
Source: PTI
