PTC India receives 3,500 MW renewable energy supply offers against 1,000 MW sought

PTC India Limited has received offers to supply up to 3,500 MW of renewable energy against 1,000 MW that the company had requested.

Around 14 renewable energy producers have submitted the offer. This is a 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 the renewable energy generation. Developers have offered quantum ranging from 100 MW to 500 MW. Since this is a hybrid based procurement (solar and wind energy), many developers have also offered high capacity utilisation factor, which means more renewable energy available for sale in the market. The projects are mainly located in Rajasthan, Gujarat, Madhya Pradesh and Karnataka. Developers have offered to commission the project within a period of 18-24 months.

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