Tata Power Trading Company Limited (TPTCL) has issued an Expression of Interest (EOI) for the procurement of up to 500 MW of renewable energy (RE), including solar, wind, hybrid, and hydropower, along with associated green attributes. This long-term procurement plan is set to last for up to 25 years, reflecting India’s growing shift towards renewable energy sources.
Growing Demand for Renewable Energy in India
With the country’s rapid economic growth and increasing focus on sustainability, there is a strong push for utilities and commercial and industrial (C&I) clients to transition from conventional power sources to renewables, either voluntarily or due to regulatory requirements. TPTCL aims to offer a stable and competitive generation tariff for renewable energy, addressing the rising uncertainty surrounding coal and gas prices.
Flexible Procurement Options
The procurement targets include both physical and virtual power purchase agreements (PPAs), providing flexibility to end buyers. The company is seeking utilities, individual companies, or groups of companies to express their interest in procuring the power. To participate in the EOI, applicants must be registered companies in India with a valid CIN, GSTIN, and PAN.
Financial Requirements
Participants must meet a minimum net worth requirement based on the amount of power they wish to procure. For instance, the net worth criteria for a 10 MW requirement is INR 10 crore, while for a 500 MW procurement, the minimum net worth requirement rises to INR 500 crore. Applicants must provide documentation certified by a statutory auditor to verify their financial standing.
Scope of Procurement
The scope of this procurement involves off-taking power and green attributes from solar, wind, hybrid, or hydro projects interconnected with the central transmission utility (CTU) or state transmission utility (STU) networks. TPTCL is committed to providing these renewable energy solutions for up to 25 years, offering a stable and reliable power source to help meet the growing demand for sustainable energy in India.
Conclusion
This EOI presents a valuable opportunity for stakeholders in the energy sector to participate in India’s transition towards renewable energy and contribute to the nation’s environmental sustainability goals. Interested parties are encouraged to review the EOI details and submit their offers accordingly.
Sources
- Tata Power Trading Company Limited
- Ministry of Power, Government of India
- Indian Renewable Energy Development Agency (IREDA)
