Construction Industry News
RK Singh, the energy minister, announced that the government would invite bids from the states to sell electricity produced at 8,000 megawatts (MW) thermal capacities without power purchase agreements (PPAs).
Singh, who is also the minister for New and Renewable Energy, told media that there are no power purchase agreements for India's 8,000 MW thermal capacity.
The minister explained the government's strategy to address the issue and said states had been asked to send in their electricity needs and that bids would be requested in response.
The minister said that in order for these plants to operate, some thermal capacities are the subject of proceedings by the National Company Law Tribunal (NCLT).
The government has already taken several steps, including meetings with the bankers, to resolve the situation as quickly as possible.
He said the NCLT contains some projects. There are 17,500 MW of power plants in the country that use only imported coal, and 2,500 MW of that fell under the NCLT.
Singh revealed that while meeting with bankers etc. they devised strategies to get this going.
He added that they would merge (their question) and call for bids, and based on the bids, whoever makes the lowest bids would sign PPAs. Once PPAs are signed, they (states) gain power.
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