New Delhi: Ministry of Power kicks off a Scheme for Procurement of Aggregate Power of 4500 MW on competitive basis or five years on Finance, Own and Operate (FOO) basis under the SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) Policy for which the Ministry of Coal has been asked to allocate around 27 MTPA, said an official statement issued by the Power Ministry.
PFC Consulting Limited (a wholly owned subsidiary of Power Finance Corporation Ltd) has been designated as the Nodal Agency by the Ministry of Power. Under the scheme, PFC Consulting Ltd has invited bids for the supply of 4,500 MW. Supply of electricity will commence from April 2023, the statement said.
The utilities that have evinced interest for the scheme are Gujarat Urja Vikas Nigam Ltd (1000 MW), Maharashtra State Electricity Distribution Company Ltd (500 MW), Madhya Pradesh Power Management Company Ltd (660 MW), New Delhi Municipal Corporation (250 MW) and Tamil Nadu Generation and Distribution Corporation Ltd (1500 MW). The last date for the bid submission is 21st December 2022.
It is for the first time that bidding is being carried out under B(v) of Shakti scheme. Also, revised PPA for medium term is being used in this bidding. This scheme is expected to help the states that are facing power shortage and also help generation plants to increase their capacities.
The Ministry of Power had notified the Guidelines for procurement of power on Finance, Own and Operate (FOO) basis under para B (v) of the SHAKTI Policy on 25th October 2022. The methodology for coal allocation as per provisions of Para B (v) of SHAKTI policy was issued on 11th May, 2022.
