Torrent Power has edged out Reliance Industries to win the contract to provide the Center with 1,090 megawatts of gas-based power supplies in order to meet the projected high demand in the summer.
Torrent Power provided 770 megawatts each for 45 days in April and May from two of its gas-based plants in Gujarat at a price of 13.70 per unit. Torrent Power has been awarded the contract for a 1,000 megawatt gas-based power supply contract. Gama Infraprop's managing director Rahul Goyal, the company won a Monday tender
for the delivery of 90 megawatts with a price quote of $14.9 per unit. Only two bidders were chosen, he claimed, out of the 26 gas-powered power plants in the nation. Although the contracts have not yet been awarded, the sources spoke on the condition of anonymity in order to discuss RIL's quote of 20.5 per unit for the supply of 1,010 megawatts.
The auction was organised by NTPC Ltd., India's largest power producer, through its power trading business, NTPC Vidyut Vyapar Nigam Ltd. (NVVN). NVVN Ltd invited proposals for a 5,000 megawatt supply of power from gas-powered power plants in compliance with directives from the electrical ministry. The chosen bidder will sell the power to NVVN between April 10 and May 16, 2023. To enhance the supply of power, the corporation will sell the power on the spot markets. The power ministry will use its Power System Development Fund to bridge the under-recovery (PSDF).
India anticipates its annual peak demand to be 230 gigawatts and is taking different precautions to prevent blackouts. The government has secured additional NTPC gas-fired capacity and advanced maintenance at several coal-fired power plants. Yet, due to a lack of fuel, around 24 gigawatts of its gas-based power generation potential is still not being fully utilised.
