New Delhi [India], November 28 (ANI): The ministry of power on Monday kicked off a scheme for procurement of aggregate power of 4500 megawatt (mw) on a competitive basis or five years on finance, own and operate (FOO) basis under Shakti policy.

PFC Consulting, a wholly-owned subsidiary of PFC, has been designated as the nodal agency by the ministry of power. Under the scheme, PFC Consulting has invited bids for the supply of 4,500 MW, according to a statement from the ministry of power. Supply of electricity will commence from April 2023. The ministry of coal has been requested to allocate around 27 MTPA for this.

Also Read | Hyundai Motor Launches 'Beyond Mobility 2.0' Campaign Inspired by Vision 'India of Tomorrow'.

The utilities that have evinced interest for the scheme are Gujarat Urja Vikas Nigam, Maharashtra State Electricity Distribution Company, Madhya Pradesh Power Management Company, New Delhi Municipal Corporation and Tamil Nadu Generation and Distribution Corporation. According to the statement, the last date for the bid submission is December 21, 2022.

It is for the first time that bidding is being carried out under Shakti scheme. Also, a revised a power purchase agreement (PPA) for medium-term is being used in this bidding. This scheme is expected to help the states that are facing power shortage and also help generation plants to increase their capacities, the ministry said in the statement. (ANI)

Also Read | Forced Religious Conversion: 'Its a Menace' Centre Tells Supreme Court; Next Hearing on December 5.

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)