On distressed power projects, Goyal said for resolution of the non-performing assets of banks, power purchase agreements (PPAs) cannot be floated. “I cannot burden the discoms (distribution companies).”
More than one memorandum of agreement for a total purchase of 1,000 (megawatt) Mw wind power under the ministry of new and renewable energy’s (MNRE’s) first auction scheme in the segment were signed on Thursday. These were between PTC India, the trading company, and the discoms of Uttar Pradesh (UP), Bihar, Jharkhand, Delhi, Odisha and Assam. Those of UP are to buy 449.9 Mw, Bihar and Jharkhand 200 Mw each, Delhi 100 Mw, Assam 50 Mw and Odisha 50 Mw. These are for meeting their non-solar renewable power purchase obligation.
The letter of award to the successful wind power developers under the first auction scheme were issued by Solar Energy Corporation of India (SECI) on April 5. The projects are to be commissioned within 18 months. A record low rate of Rs 3.46 a Kwh was obtained during the auction.
MNRE has launched a scheme for another round of wind energy auction for 1,000 Mw of projects. The differentiation between windy and non-windy states has been done away. SECI will sign PPAs with selected developers and back-to-back power sale agreements with buying utilities.