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News Brief | July 2013

Gridco floats tender to sell 200 mw surplus power

The Odisha government-owned power trader Gridco has invited tenders for sale of 200 mw power. The tender follows the surplus power availability from hydro power stations on the backdrop of favourable monsoon rains and increased generation by private thermal power producers. The surplus power, expected to fetch around Rs 800 crore for the cash strapped power trader, is to be supplied between July 2013 and November 2014 through the open access route. Firms with inter-state power trading license can respond to get the tender contract. Eligible firms have to submit Rs 20 lakh as earnest money deposit. The minimum bid should be to buy at least 50 mw power, according to the tender notice, whose validity expired on June 17. The notice stated the minimum bid should not be less than Rs 4 per unit (or one kwh). Gridco would stop selling power if rates drop below Rs four per unit as it will be unviable, an official concerned said.
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