A major milestone in the evolution of the medium-term market for power was achieved on 29th October, 2018 with the signing of agreements for 1900 MW capacity under Aggregated Power Procurement Scheme on Medium Term basis with PFC Consulting Limited as Nodal Agency and PTC India as Aggregator. The PPAs are expected to lessen the burden and would lead to efficient utilisation of capacities of some of the coal based stressed power plants. This scheme endeavors to achieve a balance in allocation of risk-reward to the transacting parties.
Ministry of Power in April 2018 had issued guidelines for a pilot scheme to facilitate aggregation of procurement of power (2500 MW for three years) from commissioned coal-based power plants through competitive bidding. PFC Consulting conducted the bid process for selection of capacity on DEEP e-bidding portal from different projects. Subsequent to the bidding process tariff was discovered as Rs. 4.24 per unit and projects with aggregate capacity of 1900 MW were declared as the successful bidders.
