In a clarification issued to stock exchanges, Torrent Power said that has won a tender to supply 1,100 MW of power.
Torrent Power said that NTPC Vidyut Vyapar Nigam Ltd (NVVN), as the nodal agency designated by the Union power ministry, had invited tenders for the procurement of 4,000 MW of power from gas-based power plants for the identified “crunch period” from April 10, 2023, to May 16, 2023.
Torrent Power participated in the tendering process and the subsequent e-reverse auction. Following this, Torrent Power was awarded 920 MW at a cost of around Rs.13.70 per kWh. Torrent Power will supply this power from its DGEN plant (770 MW) and SUGEN plant (150 MW).
It may be mentioned that the Bombay Stock Exchange (BSE) on April 12, 2023, ask Torrent Power for clarification on the matter after a leading business daily reported that Torrent Power had won a tender to supply 1,100 MW.
While furnishing this information in response to the clarification sought, Torrent Power said that it did not make a voluntary disclosure of the development as the event was not “material” in the context of extant disclosure guidelines.
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According to the information available, NVVN will sell this gas-based power on the day-ahead market (DAM) or HP-DAM segment of power exchanges.
Apart from NVVN’s plan to procure 4,000 MW of gas-based power plants during this identified crunch period (when power demand is expected to peak), NTPC will also be running its gas-based power plants aggregating around 5,000 mw during this period. GAIL (India) is understood to have assured gas-based power plant developers of gas supplies, it is learned.
Featured photograph (source: Google Images) shows Torrent Power’s SUGEN gas-based power plant in Gujarat.
