Ministry of Power launches scheme for procurement of 4,500 MW for 5 years under SHAKTI policy

Shakti policy has been launched for procurement of 4,500 MW of aggregate electricity for a period of five years

November 29, 2022

Shakti policy has been launched for the procurement of 4,500 MW of aggregate electricity for a period of five years

Power Ministry launches scheme under which PFC will procure power for states

The Power Ministry has made provision for the procurement of electricity under the Ministry’s “Scheme for Harnessing and Allocating Koyala (Coal) Transparently in India” (SHAKTI) policy. The Shakti policy has been launched for the procurement of 4,500 MW of aggregate electricity for a period of five years.

“Ministry of Power kicks off a scheme for procurement of aggregate power of 4,500 MW on a competitive basis for five years on finance, own and operate (FOO) basis under SHAKTI Policy,” a statement issued by the Power Ministry said.

The scheme is expected to help those states which are facing power shortages and will also help increase the capacity of generation plants, official sources said.

PFC Consulting Ltd, a wholly-owned subsidiary of Power Finance Corporation (PFC Ltd), has been made the nodal agency by the Power Ministry for the scheme.

Under the scheme, PFC Consulting Ltd has invited bids for the supply of 4,500 MW of electricity. The supply will commence from April 2023 and the coal ministry has been requested to allot around 27 million tonnes per annum of dry fuel for it.

Some of the entities which have shown interest in the scheme are Gujarat Urja Vikas Nigam Ltd, Maharashtra State Electricity Distribution Company Ltd, Madhya Pradesh Power Management Company Ltd, New Delhi Municipal Corporation, and Tamil Nadu Generation and Distribution Corporation Ltd. The last date for bid submission is December 21, 2022.

[With Inputs from IANS]

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