PTC India has floated bids for 500 MW of hybrid renewable energy (wind and solar) under tranche-I with a greenshoe option for an additional 500 MW. The expressions of interest (EoI) was issued to determine the market potential and obtain power from interested hybrid renewable energy suppliers. The company intends to procure 5,000 MW of renewable energy in tranches of 500 MW to 1,000 MW over the period of next 2 to 3 years. PTC may later sign a bilateral power purchase agreement with the most competitive source based on the EoI response.
According to the tender guidelines, the bidders must have completed commercially operational renewable energy projects with a total capacity of at least 250 MW in India or abroad to be eligible. Their net worth should be at least Rs 2.5 billion. The suppliers must provide power generated by the hybrid (wind-solar) renewable energy project for the duration specified in the EoI. A hybrid project should consist of at least two components, one solar and one wind power project. The delivery point will be the project’s nearest central transmission utility interconnection point. The minimum bid capacity for the tender is 50 MW, and the expected capacity utilisation factor is 50 per cent. The bid submission deadline is October 20, 2022.
Recently in August 2022, PTC India Limited signed a MoU with NHPC Limited for the sale of power produced by Nepal’s upcoming West Seti and Seti River-6 projects. According to the MoU, PTC will purchase the contracted capacity from NHPC from the date of commercial operation of the above projects for long-term sale to state utilities, discoms, or bulk consumers in India and neighbouring countries. PTC will also take the opportunity to sell any untied capacity on a medium- or short-term basis or through power exchanges.
