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Posted at: Jan 7, 2016, 12:37 AM; last updated: Jan 7, 2016, 12:34 AM (IST)

BSES to buy 700 MW of ‘green energy’ for city

New Delhi, January 6

Delhi's Reliance Infra-backed power distribution company BSES today announced plans to procure 700 MW of "green energy".

The company said it has decided to procure both solar and non-solar power at under Rs 5 per unit through the "reverse auction" route to ensure an "extremely competitive" rate to benefit the consumers.

"This will open a new avenue of procuring power at competitive rates from renewable sources. The whole process is ultimately going to help consumers in getting cleaner energy at competitive rates and keep the retail tariffs low," said a BSES spokesperson.

He said initially around 700 MW of "green" energy will be procured and claimed it to be the "largest private sector green bid in India" under guidelines of Ministry of New and Renewable Energy.

The reverse auction route for procuring power is being taken to reduce the cost by Rs 200 crore annually. The last date for technical bidding for the project is January 18 and the actual flow of power is expected by end of the year.

In the reverse auction, a bidder has to quote a rate lesser than the amount mentioned and the lowest bidder becomes the winner.

The BSES, which distributes power to 70 per cent areas in Delhi, said it plans to procure clean power below Rs 5 per unit as apposed to Rs 6.19 per unit which was the lowest rate in an earlier bid.—PTI

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