PFC Issues Tender for Procurement of Aggregate Power Including RES with Storage

PFC Issues Tender for Selection of Solar Power Developers for 1250 MW Solar Projects

PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited, has invited proposals for the “Procurement of Aggregate Power requirement of Group of States” for undertaking tariff based competitive bidding for medium term procurement of Power”.

PFC is the authorized representative appointed by the Ministry of Power under para B (v) of Shakti Policy, 2017.

The last date for bidders to seek clarification is May 25, 2023 and the last date of submission of bid is June 15, 2023 at or before 15:00 hrs (IST) on DEEP Portal. Response to invitation will be opened on the same day at 15:30 hrs (IST) on DEEP portal.

Substitute Supply of Renewable Power 

The document states that the the supplier may supply the contracted capacity in a flexible manner by bundling with renewable sources and storage power as per Government of India orders in this regard.

As per the tender document, in the event that the availability of the power station is reduced on account of scheduled
maintenance, unscheduled maintenance, delay in commercial operation, shortage of fuel or force majeure, the supplier may, supply electricity from any alternative source, and such supply shall, for payment of fixed charge and variable charge, be deemed to be supply under and in accordance with the provisions of the agreement. Provided further that such supply of electricity from any alternative source shall be limited to 180(one eighty) days at a time and 365 (three hundred and sixty five) days for the entire contract period. For the avoidance of doubt, the parties agree that in the event the utility rejects any supply of electricity offered hereunder from an alternative source, the supplier shall be deemed to be in compliance with this agreement for the purpose of determination of availability and payment of fixed charge.

The bidding document can be accessed here.

PFC has been giving momentum to renewable energy projects in India. Among the many firms that have been backed by the PSU, Vibrant Energy was among the recent ones that secured more than INR 2,200 crores of project financing from Power Finance Corporation Ltd. (PFC). This funding will aid the firm in establishing 300 MW (AC) of wind-solar hybrid projects in Madhya Pradesh and Karnataka.