Torrent Power Floats 200 MW FDRE Tender With Greenshoe Option

Gujarat-based Torrent Power has invited bids for a 200 MW firm and dispatchable renewable energy (FDRE) project with an energy storage system (ESS). The tender includes a greenshoe option of up to 100 MW, with the bidding deadline set for 30 August 2025.

Torrent Power Ltd (TPL), a distribution licensee in Gujarat, issued this tender to serve cities including Ahmedabad, Gandhinagar, Surat, Dahej SEZ, Dholera SIR, and Mandal Becharaji SIR. The project may be set up at one or multiple locations to supply the contracted renewable energy capacity to Torrent Power’s distribution arm (TPL-D). 

For the project, TPL requires the successful bidder to maintain a demand fulfilment ratio of at least 75% each month during both non-peak and peak hours. The tender qualified the Renewable power, including energy stored in an ESS charged from renewable sources, for renewable purchase obligation (RPO) compliance. The tender clarified that the RPO will be apportioned among the different renewable components, will be in line with the principle used for hybrid plants. 

Shortfall in Energy Supply: 

The tender also mandates maintaining an average demand fulfilment ratio (DFR) during peak hours and non-peak hours. The tender explained, "In case the average demand fulfilment ratio (DFR) during non-peak hours or peak hours falls below 75% in any month, except in cases of force majeure, the successful bidder will be liable to pay a penalty. The penalty will be calculated at 1.5 times the PPA tariff for the shortfall in energy units."

The tender also requires the winning bidder to source up to 5% of renewable energy annually, in energy terms, from green market sources or bilateral agreements to meet the supply conditions set out in the tender document and PPA.