Torrent Power and Lanco Group have emerged as the lowest bidder in an auction for supplying natural gas-fired power during peak electricity demand periods.
Initiated by NTPC Limited in January 2024, the tender sought 4,000 MW of gas-fired power but only received bids totaling 1,307 MW. Torrent Power’s DGEN Power plant in Gujarat has proposed to supply 770 MW of power at Rs 5.63 per kWh, while Lanco’s gas-fired plant has offered 355 MW at Rs 7.02 per kWh. Additionally, two smaller plants in Uttarakhand have offered a combined 182 MW at an average rate of over Rs 7 per kWh. Although these companies have emerged as the lowest bidders in the online auction, the awarding of contracts is pending.
