The Ministry of Power vide resolution dated 3rd February, 2022 has issued amendments to the Guidelines for Tariff Based Competitive Bidding Process for Procurement of Round-The Clock Power from Grid Connected Renewable Energy Power Projects, complemented with Power from any other source or storage.
The amendment provides that the bidder shall be selected on the basis of least quoted ‘weighted average levelised Tariff’. The bidder (called the L1 bidder) quoting the least weighted average levelised Tariff (called the L1 tariff) shall be allocated the quantum of power offered by him. If the allocated quantum of power is less than the total quantum of power to be contracted, the capacity allocation shall be on the basis of “Bucket filling” i.e. capacity quoted by L1 bidder at L1 rates shall be allocated first, then the capacity quoted by next lowest bidder (called the L2 bidder) at the rates quoted by him (called the L2 rates) shall be allocated and so on, till the tendered capacity is fully exhausted.
