Government to buy electricity from ICB facilities during summer

24 Jan 2023 CW Team

For the months of April and May, when power supply in the day-ahead market (DAM) on power exchanges is anticipated to be less than the demand, the power ministry has announced a tender to purchase 1,500 megawatts (MW) of electricity from imported coal-based (ICB) plants. On the DEEP e-Bidding Portal, an electronic tender was posted for the purchase of energy from ICB plants with untied capacity by NTPC Vidyut Vyapar Nigam (NVVN).

In order to expedite the supply of 1,500 MW of electricity from ICB plants with untied capacity during the anticipated crunch time, NVVN, a subsidiary of NTPC, has been designated as a nodal agency (April 10 to May 10). The request for supply (RfS) document stated that it will guarantee a sufficient supply in DAM, which is therefore anticipated to have a moderating impact on clearing prices.

The deadline for bid submission is February 14 while on February 20, the pricing bids from eligible bidders will be revealed. The contract between the chosen bidders and NVVN will be signed on March 4 once the Letter of Award (LoA) is released on February 25. The tender document stated that NNVN intended to choose suitable bidders whose bids would be opened on the date specified in this RfS and who would be eligible for opening of price bids, followed by a reverse auction for issuing LOA through an open competitive bidding process in accordance with the procedure set forth herein.

Within 30 days of the LoA's date, the power supply from a few selected ICB facilities must start going to DAM. The chosen ICB plant must offer the capacity through a nodal agency on any of the power exchanges that have successfully run DAM for a continuous 30 days for each time block in order to give effect to such supply.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..