PTC India has received offers for the supply of 3.5 GW of hybrid wind-solar power against its call for an interest to supply 1 GW. It received a response from overall 14 developers, including domestic players like Tata Power Renewable Energy, Torrent Power, and ReNew Power as well as international players like Enel Green and Engie power.
PTC India, a Government of India initiative, is a leading provider of power trading solutions in India. It launched the call for EOI in September to assess the market potential and procure power from interested hybrid renewable energy suppliers for onward sale through market-linked RE products. Based on the EOI response, it is expected to sign a bilateral power purchase agreement (PPA) with the most competitive source.
“This is first-of-its-kind development in the Indian power market wherein a trading licensee intended to purchase renewable power for onward sale through market-linked products. This will lead to significant changes in the present electricity market structure and speed up renewable energy generation,” stated PTC.
Developers have offered quantum ranging from 100 MW to 500 MW. “Since this is a hybrid-based procurement (solar plus wind energy), many developers have also offered high capacity utilization factor (CUF), which means more renewable energy available for sale in the market,” stated PTC.
The projects are mainly located in Rajasthan, Gujarat, Madhya Pradesh, and Karnataka. Developers have offered to commission the project within 18-24 months.
The offers received from the developers are currently under evaluation and PTC is likely to take a call on the procurement within a month.
Commenting on the above development, Dr. Rajib K Mishra, CMD (addl. charge), PTC India Ltd, said “This is a unique market-linked product being initiated by PTC to encourage renewable energy sale in the exchanges or through any other options without putting any burden or commitment on the state discoms. This will shape up the future of the renewable energy market and will contribute to the growth of the sector.”
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