Power Finance Corporation Current Affairs

Government launches Pilot scheme Procurement of Aggregate Power of 2500 MW for 3 years

Ministry of Power has launched Pilot Scheme for Procurement of Aggregate Power of 2500 MW on competitive basis for 3 years. The main purpose of scheme is to revive commissioned power plants which are unable to sell electricity in absence of valid power purchase agreements (PPAs).

Key Facts

Under this scheme, these plants will be allowed to bid for power supply. Under it, power will be procured from generators with commissioned projects under medium term but without Power Purchase Agreement.

PFC Consulting Limited (a wholly owned subsidiary of state-run Power Finance Corporation) has been appointed as Nodal Agency and PTC India Limited as aggregator.

PTC India will sign three-year (mid-term) Agreement for power procurement with successful bidders and Power Supply Agreement with Discoms. Under pilot scheme, a single entity can be allotted maximum capacity of 600 MW.

The scheme will assure minimum off-take of 55% contracted capacity.  The Tariff will be fixed for 3 years without any escalation. This scheme is expected to revive power demand which has affected generators not having Power Purchase Agreements.

Significance

The scheme will help nearly 12 GW commissioned thermal power plants get medium-term power purchase agreement (PPA) which is pre-requisite for getting coal linkage. Presently out of 40 GW stressed coal based power generation capacity, 28 plants of 24 GW worth Rs 1.44 lakh crore are commissioned. Nearly half of these capacities (12 GW) do not have coal linkage because of no PPAs.

Month: Categories: India Current Affairs 2018

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Union Ministry of Power launches URJA mobile app

The Union Ministry of Power has launched ‘URJA’- Urban Jyoti Abhiyaan Mobile application for Urban Power Distribution Sector.

It was launched by Union Power minister Piyush Goyal on the side-lines of two day conference of Power Ministers at Cansaulim in South Goa.

Key Facts

  • The mobile app has been developed by Power Finance Corporation (PFC) on behalf of Union Ministry of Power.
  • The aim of the app is to enhance consumer connect with the Urban Power Distribution sector by providing information of IT enabled towns.
  • The app will work as manifestation of Prime Minister Narendra Modi’s principle of good governance i.e. People focus, co-operative federalism.
  • The app allows users to get information of performance of their town, State level DISCOMs on different parameters including their ranking, pending consumer complaints.
  • It also will provide information on average percentage of consumers making e-Payments, power cuts as well as power loss or theft.
  • The app will also give information on various schemes and initiatives undertaken by the Union Government to improve the power supply.

Month: Categories: India Current Affairs 2018

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