- PTC India has opened an EOI for 1 GW hybrid solar and wind power procurement
- Under tranche I, it includes 500 MW solar and wind power capacity with an additional 500 MW under green shoe option
- Through this EOI, it is aggregating market demand to explore potential for purchase of green power
Government of India owned power trading solutions provider PTC India Limited has invited proposals to procure 1 GW hybrid solar and wind energy on a long-term basis under tranche I with a view to assess market potential and source power from interested suppliers.
The EOI is open to eligible renewable energy developers who can supply this hybrid power for a period of 25 years from a hybrid project comprising at least a solar and a wind power plant. Under tranche I, it will seek 500 MW solar and wind power capacity with a green shoe option for an additional 500 MW power. Minimum capacity to be offered should be 50 MW.
“Through this EOI PTC is exploring market interest in selling power to PTC at a firm tariff with onward obligation for the sale of power through any Long Term/Medium Term/Short Term/Power Exchange or any other market/product lies with PTC,” stated the agency.
It is also in discussion with prospective utilities, industries and other consumers to aggregate demand and gauge market potential for the purchase of green power. Basis responses received, at a later stage it may enter bilateral power purchase agreements (PPA) with the most competitive source.
Previously known as the Power Trading Corporation of India Limited, PTC targets to procure 5 GW renewable energy in the next 2 or 3 years in tranches of 500 MW to 1,000 MW each. It believes for entities to meet their renewable purchase obligations to contribute to 500 GW non-fossil fuel power by 2030 target of India, market-based products need to be offered. Hence, the tender.
Last date to submit bids is October 20, 2022. Details can be availed from PTC’s website.