Bidding process to rescue Rs. 60,000 crore power plants begins.

The bidding process to rescue stranded power projects worth Rs. 60,000 crore began today with the companies putting in bids to be technically qualified for getting government's financial support.

Gas-based power stations, which are either shut for want of fuel or are receiving some domestically produced gas and running at sub-optimal levels, are eligible for government subsidy to help them buy costly imported LNG.

Technical bids closed this evening and the e-auction will be held on Monday, official sources said.

The list of technically qualified bidders will be revealed two hours before the start of bidding on Monday, they said.

As many as 31 power stations with a combined capacity of 14,305 MW which are languishing because of want of gas can bid for support from the Power System Development Fund (PSDF) for generating 30 per cent of their installed capacity, called plant load factor, using imported liquefied natural gas (LNG).


ET