A dozen power plants of companies like Adani Power, Jindal Power, GMR Energy and Essar Power have quoted Rs 3.26 per unit tariff for power supply to states, the lowest bid from coal-based power projects in years.
Experts said the tariff, lowest ever for medium-term power contacts, was a desperate move by the stressed thermal power sector, which is facing intense competition from solar and wind power plants, but the contracts will help them repay portion of their debt.
The tender was called under round two of the Centre’s scheme to aggregate 2,500-mw power purchase agreements (PPAs) for states by PFC Consulting Ltd, which is the nodal agency for the scheme. PTC India is the aggregator for the scheme.
Sources said Adani Power has quoted Rs 3.26 per unit for supply of 700-mw from two its plants in Raigarh and Raipur, while Jindal Power Ltd bid for 420-mw of supply from two plants. Essar Power has quoted for 260-mw, while Jindal India Thermal Power for 270-mw.
Jaypee’s Nigrie power plant has bid for supply of 200-mw, while MB Power, Sembcorp Energy and GMR Energy have quoted for 150-mw each, they said. SKS Power and DB Power have bid for 100-mw supply each.
These companies matched the L1 price of Rs 3.26 per unit for total supply of 2,500-mw PPAs sought under the scheme.