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…