PTC India has announced that in response to its expression of interest (EOI) for procurement of 1,000 MW for onward sale through market-linked renewable energy products, it has received offers for supply of 3,500 MW of renewable energy from 14 producers. The bids are currently being evaluated and PTC expects to make a decision on the procurement in a period of 3 to 4 weeks.
Quantities ranging between 100 MW to 500 MW have been proposed by developers. As this is a hybrid procurement including solar and wind energy, many developers have also offered a high capacity utilisation factor implying that there will be more renewable energy available for sale in the market. The majority of the projects are located in Rajasthan, Gujarat, Madhya Pradesh, and Karnataka. The developers have offered to complete the projects within a span of 18 to 24 months.
Recently in September 2022, PTC India 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 expression of interest 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.