The Government has kicked off a pilot scheme to procure 2,500 MW power for three years under medium-term agreements. A PFC statement said the power will be procured from generators with commissioned projects but without Power Purchase Agreements (PPAs).
Under the scheme, a single entity can be allotted maximum capacity of 600 MW. The scheme assures a minimum off-take of 55 per cent of contracted capacity. The tariff will be fixed for three years without any escalation, the statement added.

PFC Consulting Ltd is in process of inviting the bids in the first week of May under the scheme. The bidding will be conducted on the DEEP e-Bidding Portal and with L1 matching for bucket filling without reverse auction. PFC Consulting has been appointed as Nodal Agency and PTC India Ltd as the aggregator. PTC India would sign three-year (mid-term) agreement for procurement of power with successful bidders and power supply agreement with the Discoms.

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