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Kolkata-based company makes highest bid of `871 cr

A total of seven companies were in the race, including Adani Transmission Limited, Tata Power, Torrent Power, Sterlite Power, renew Wind Energy, NESCl (NTPc), and Eminent Electricity power company.

Written by Hina Rohtaki | Chandigarh |
August 5, 2021 6:08:14 am
The power engineers have been on protest for the last many months. (Representational image)

Eminent electricity distribution company Wednesday pegged around Rs 871 crore, the highest bid, in the Chandigarh’s power privatisation project.

The financial bids of the firms opened in the presence of officials. Officials said that Eminent pegged the highest amount, almost five times more than the reserve price of Rs 175 crore.

UT officers did not divulge any information stating that Eminent is the H1.

A total of seven companies were in the race, including Adani Transmission Limited, Tata Power, Torrent Power, Sterlite Power, renew Wind Energy, NESCl (NTPc), and Eminent Electricity power company.

While Torrent placed a bid of Rs 606 Cr, NTPC bid 563 Rs Cr, Sterlite-bid Rs 201 Cr, TPC bid Rs 426 Cr, Adani placed a bid of Rs 471 Cr, and Renew bid Rs 551.5 Cr.

The technical bids had opened two days ago. A meeting of the Empowered Committee regarding the privatization of the electricity department was held, in which the recommendations sent by the Technical Evaluation Committee were discussed.

The case will be prepared along with the recommendations to be sent to the UT Administrator for final approval. Deloitte has been appointed as the consultant for the project.

It is only after the orders of the Supreme Court last month, that the decks for the process of privatisation were cleared. The Punjab and Haryana High Court had stayed the process on May 28 after the UT Powermen union had filed a petition in the matter.

The decision to privatise power was taken on the Centre’s directions on May 12, 2020. The Powermen union had staged several protests, fearing job losses in the face of privatisation.

Eminent Electricity Distribution Limited is a Kolkata based company.

Its parent company is the Calcutta Electric Supply Corporation (CESC) which is the Kolkata-based flagship company of the RP-Sanjiv Goenka Group, born from the erstwhile RPG Group, under the chairmanship of businessman Sanjiv Goenka.

HOW CHANDIGARH PURCHASES ITS POWER
An amount Rs 640 crore in purchasing power every year. It has a consumption of around 400 Mega Watts (MW). The UT power department purchases it for Rs 3.26 paise per unit.

The electricity department does not have its own power generation source and buys its power through its allocation from Central generating stations (CGS): the National Thermal Power Corporation Limited (NTPC), National Hydroelectric Power Corporation (NHPC), Nuclear Power Corporation of India Limited (NPCIL), Bhakra Beas Management Board (BBMB), Satluj Jal Vidyut Nigam (SJVN) and Tehri Hydro Development Corporation Ltd (THDC).

To meet the demand which goes up during summers, the electricity department sometimes procures un-requisitioned surplus power from different stations.

The department has a power purchase agreement (PPA) of 247MW. To meet the shortfall, un-requisitioned surplus power is usually purchased from power plants at Dadri, Jhajjar, Unchahar-I and Unchahar-II, and various other plants.

At present, the power load of Chandigarh is fed from Kishangarh-based 3×100 MVA power transformers, Mohali’s 2×80 MVA and 66-kV line from Dhulkote.

There is one 220KV sub-station, 13 66KV sub-stations and five 33KV sub-stations in the city. Each sub-station has a life span of 25 years and around six 66KV sub-stations have completed the life span.
There are nearly 2.47 lakh consumers in different categories. Of them, 2.14 lakh fall in the domestic category which means about 87 per cent of the total number of consumers. Other categories involve Commercial, small power, medium supply, bulk supply, large supply, public lighting, agriculture power, and temporary supply.

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