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PFC Invites Second Round of Bids for 4,500 MW Electricity Supply to Five States on FOO Basis
State-run Power Finance Corporation (PFC) has initiated the bidding process for the procurement and supply of 4,500 MW of electricity over a five-year period to five states under the demand pooling scheme. This marks the second bidding invitation by PFC since the launch of the scheme last year. In November last year, PFC Consulting initiated a request for proposals (RFP) for the supply of 4,500 MW of power over a five-year period, starting from April 2023. The RFP aimed to cater to the electricity requirements of multiple utilities in 5 states – Delhi, Maharashtra, Madhya Pradesh, Tamil Nadu and Gujarat. As per the information provided, the RFP revealed that the five utilities had shown interest in procuring a total of up to 3,910 MW of power.
PFC, a non-banking finance company in the power sector, has been authorized by the Ministry of Power to aggregate power demand from states and conduct bidding for power supply on a Finance, Own and Operate (FOO) basis.
The bidding document states that the electricity will be sourced from a power generating station with a contracted capacity of 4,500 MW, and the supply will be dedicated to the Project on a FOO basis through a Public-Private Partnership (PPP). Interested bidders have until June 15 to submit their bids, while the deadline for seeking clarifications is May 25. PFC will open the responses to the invitation on the same day at 15:30 pm on DEEP Portal.
The scope of work outlined in the bidding document includes the operation and maintenance of the Power Station, as well as the supply of electricity in accordance with the Power Purchase Agreement (PPA) terms. Power generating companies (Gencos) have the opportunity to bid for a minimum of 100 MW. This initiative aims to ensure a steady and reliable supply of electricity to the participating states through a structured and transparent bidding process, facilitating efficient power procurement and meeting the increasing energy demands.