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PTC India’s expression of interest (EoI) to procure 500 MW of hybrid renewable energy (wind and solar) (Tranche-I), with a greenshoe option for an additional 500 MW, has received a strong response, according to Mercom sources. The power procurement is for the long term (25 years).
PTC has received bids totaling 3,500 MW from 14 top renewable energy generators.
The developers who have shown interest include Tata Power Renewable Energy, Torrent Power, ReNew Power, Enel Green, and Engie, among others.
The tender was floated in September this year.
PTC plans to procure renewable power of up to 5,000 MW in the next 2-3 years in tranches of 500 – 1,000 MW each.
Power generated from hybrid (wind-solar) renewable power projects must be supplied for the term specified in this EoI.
The delivery point will be the nearest central transmission utility interconnection point from the project.
PTC has stated that an adequate payment security will be provided to the supplier. The payment security will be in the form of a standby revolving ‘Letter of Credit’ with a value of an estimated two months of average monthly billing valid for the term of the power purchase agreement.
Last November, SJVN had signed a pact with PTC India to develop projects to supply round-the-clock renewable energy. The two companies will jointly develop products for renewable power supply from SJVN’s projects bundled with available market capacity. PTC will provide market information regarding the availability of the merchant power capacity from various sources under the pact. In addition, PTC will also study, explore, prepare and submit a detailed report regarding the supply of power from proposed renewable energy projects of SJVN to potential beneficiaries across India.
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