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MoP issues draft for competitive bidding on pumped storage plant projects

The Ministry of Power (MoP) has released a draft for tariff-based competitive bidding (TBCB) aimed at procuring storage capacity or stored energy from pumped storage plants (PSP). The draft outlines a single-stage, two-part bidding process, including technical and financial bidding stages, for securing storage capacity from these projects.

According to the draft, for on-river pumped storage projects, operations must commence within 66 months of signing the power purchase agreement (PPA). For off-river projects, the completion timeline is set at 48 months. Developers are allowed to start operations early with a 15-day notice, and the first phase of commissioning must have a capacity of at least 50% of the total project or 50 MW, whichever is lower.

The draft proposes two modes for procuring storage capacity from PSPs:

Pre-specified Sites: In this mode, PSPs are located on sites pre-specified by the government, and the procurer can choose to develop the project on a site mentioned in the bidding document. If the site is government-owned or belongs to a government entity, the project will be developed on a build-own-operate-transfer (BOOT) basis for 25-40 years.

Self-identified or Existing Sites: This mode allows bidders to supply storage capacity from a PSP developed on a self-identified site or from an existing commissioned PSP. Projects under this mode may be developed on a finance-own-operate (FOO) basis for 15-25 years.

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