Offers For 3500 MW Pour In For PTC India Call For 1000 MW RE From Developers

PTC India, the listed power trading firm, has announced that it has received a strong response to its call for expressions of interest from relevant players to supply 1000 MW of renewable energy for onward sales through market linked products. The 500 MW plus 500 MW greenshoe option was part pf Phase 1 of PTC India’s plan to procure renewable energy for trading onwards. The company says the response has exceeded 3500 MW, from 14 of the leading Renewable energy developers in the country.

The firms have offered parcels ranging from 50 MW to 500 MW to PTC India.

Developers ranging from Renew Power, to Tata Power, Torrent Power and key foreign developers like Engie and Enel Green have participated in the bids.

The hybrid based bids involves both Solar and wind energy, and consequently higher CUFs too. PTC says the developers have offered to commission the projects in the next 18-24 months.  PTC had offered a 25 year contract in the EOI.

States including Rajasthan, Gujarat, Madhya Pradesh and Karnataka have been cited for the project locations.

Whole it is not clear currently how many of these projects are projects already under construction, acceptance of relevant bids by PTC in the next 3-4 weeks will certainly open up a fresh avenue for capacity additions in the renewable energy sector.

PTC India is one of the promoters of HPX India (Hindustan Power exchange), the third and newest power exchange  in the country that has started strongly with a suite of offerings for its customers.