In a yet another first ever move, the South Eastern Coalfields ltd (SECl) has launched a new three-year 'Special Forward e-Auction Scheme' for power producers and IPPs, a company press release informed.
A quantity as large as about eight million tonnes have been put on sale under this scheme through e-Auction scheduled to be held on March 30. 2017.
The MSTC ltd will hold the auction on behalf of SECl. The details of source wise quantities on offer and the modalities of the Scheme are available at respective websites of SECl and MSTC, it stated.
The Scheme is getting tremendous response from the power producers who are presently having insufficient or no coal linkages and therefore are not able to run on full capacity. Such power
producers would now be able to book quantities for three years as per their requirements based on PPAs, it informed.
The highlights of the Scheme are that it provides the opportunity to willing buyers of power sector for fixing their coal sourcing issues now on a long term basis I.e. three years.
Besides that bidders can participate by depositing only 6% EMD in the form of cash or BG.
While formulating the modalities of the Scheme , the concept of Ease of doing Business has been applied and the Scheme contains very buyer-friendly provisions regarding Payment and coal lifting schedules, the press release informed.
Power producers are gearing up to grab this never before opportunity provided by Union Ministry of Coal and Coal India to fulfill their long term coal requirements , it informed.