Govt floats tender to procure gas-based plants
OIL & GAS

Govt floats tender to procure gas-based plants

In order to purchase 4 gigawatts (GW) of electricity from gas-based power plants during the peak demand months of April and May, the Electricity Ministry published a tender on Sunday. The state-run power producer NTPC's subsidiary, NTPC Vidyut Vyapar Nigam (NVVN), issued a Request for Supply (RfS) for the purchase of electricity.

During the defined crunch period, NVVN has been designated as a nodal agency to facilitate the supply of 4,000 megawatts (MW) of power from GBP units (April 10 to May 16, 2023). The Day Ahead Market (DAM) would be sufficiently supplied as a result, which is anticipated to moderate the clearing price, according to the RfS paper.

In a power exchange, the Day-Ahead-Market (DAM) is a physical electricity trading market for deliveries for any/some/all 15-minute time blocks in the following day's 24-hour period beginning at midnight.

The document further said that chosen bidders would be qualified to participate in the opening of price bids, a reverse auction, and bucket filing for the purpose of granting Letters of Award (LOA) through an open, competitive bidding procedure.

The bidders will be chosen on March 25 after the deadline for submission of proposals. On March 27, the pricing bids from eligible bidders will be revealed. By April 6, 2023, the contract between the chosen bidders and NVVN will have been signed. The Letter of Award (LoA) will be released on March 30.

In order to purchase 4 gigawatts (GW) of electricity from gas-based power plants during the peak demand months of April and May, the Electricity Ministry published a tender on Sunday. The state-run power producer NTPC's subsidiary, NTPC Vidyut Vyapar Nigam (NVVN), issued a Request for Supply (RfS) for the purchase of electricity. During the defined crunch period, NVVN has been designated as a nodal agency to facilitate the supply of 4,000 megawatts (MW) of power from GBP units (April 10 to May 16, 2023). The Day Ahead Market (DAM) would be sufficiently supplied as a result, which is anticipated to moderate the clearing price, according to the RfS paper. In a power exchange, the Day-Ahead-Market (DAM) is a physical electricity trading market for deliveries for any/some/all 15-minute time blocks in the following day's 24-hour period beginning at midnight. The document further said that chosen bidders would be qualified to participate in the opening of price bids, a reverse auction, and bucket filing for the purpose of granting Letters of Award (LOA) through an open, competitive bidding procedure. The bidders will be chosen on March 25 after the deadline for submission of proposals. On March 27, the pricing bids from eligible bidders will be revealed. By April 6, 2023, the contract between the chosen bidders and NVVN will have been signed. The Letter of Award (LoA) will be released on March 30.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code