Tender floated to procure 4 GW power from gas based plants during identified crunch period

The Ministry of Power has floated a tender to procure 4 GW electricity from gas-based power plants during the identified crunch period from April 10, 2023 to May 16, 2023.

A request for supply (RfS) was floated for the procurement of electricity by NTPC Vidyut Vyapar Nigam Limited (NVVN), nominated as nodal agency to facilitate supply of 4,000 MW power from gas based power plants. This was done to ensure sufficient supply in the day ahead market and create a moderating effect on clearing price. NVVN intends to select suitable bidders whose bid shall be opened on the date specified in this RfS and will be eligible for opening of price bids, followed by reverse auction and bucket filing for issuing letter of award (LOA) through an open competitive bidding process. The last date for submitting bids is March 25, 2023 and the bidders will be selected on the same day. The pricing bids for qualified bidders will be opened on March 27, 2023. The LoA will be issued on March 30, 2023 and the agreement between selected bidders and NVVN will be inked by April 6, 2023.