NTPC Ltd has announced that it has released a tender, inviting bids from eligible bidders for the procurement of power from existing solar PV power plants and wind power plants up to a cumulative capacity of 100 MW. According to the IFB, the power procured will be utilized for flexible generation of the company’s thermal power projects.
The last date for bid submission is September 11, 2019, and the techno-commercial bids will be opened on September 12, 2019. The power utility has also intimated that the financial bids opening and the reverse auction will be conducted on September 13, 2019.
NTPC will sign a Power Purchase Agreement (PPA) with the selected bidders for the purchase of power for one month from the starting date of the power procurement from the project. The least capacity that can be procured from the solar or wind power project is 50 MW. The rest will be in multiples of 10 MW. A single bidder can also offer to sell renewable power from multiple solar or wind power projects.
The bidders will have to submit bids quoting a fixed tariff for the entire PPA duration of one month. The shortlisted bidders will then be invited for the reverse bid auction. The tariff cap has been set at Rs 3/kWh for the first round of selection.
To partake, the bidders should have already commissioned solar and wind power projects that are commercially operational on the date of bid submission. The projects can be located anywhere in India.
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