State-owned electricity distribution companies (discoms) have evinced interest in procuring 1,400 MW from the central government scheme to salvage power plants without power purchase agreements (PPAs). PFC Consulting, a subsidiary of the Power Finance Corporation, and the NHPC are jointly negotiating with discoms to tie up medium-term PPAs (three years) for 2,500 MW generating capacity. “Coordination with all the discoms is in process and it is expected that the balance demand of 1,100 MW shall be received shortly,” a senior NHPC official told FE on conditions of anonymity.
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In a recently concluded reverse auction, as many as 13 companies agreed to cumulatively sell 2,500 MW from their untied capacities for Rs 4.41/unit. According to industry sources, 515 MW was won by Jindal Power, 290 MW by JSW Energy and 295 MW by Adani Power.
