MoP issues guidelines for medium term power procurement

The MoP has issued guidelines for the procurement of power for the medium term through the competitive and transparent bidding process from power stations set up on a finance own-operate basis. The application of the guidelines is restricted to projects from where the power is procured for a period of one to five years, with a provision of extension of up to 25 per cent of the initial contract period or one year, whichever is lower, with mutual consent.