SIX power generation firms have expressed interest in taking part in the competitive selection process (CSP) for the supply of 1,800 megawatts (MW) of power, a senior Manila Electric Co. (Meralco) official said on Monday.
Over the past two fiscals, demand for electricity has seen a robust 8-9% annual growth, driven by the post-pandemic economic rebound. During this period, 34 gigawatt (GW) of capacity has been added with 90% of it in RE. In GW terms, this is a 9% growth in power capacities but on normative terms this was only 4-5% growth as capacities operates at varying PLFs2 and in this incremental supply, coal-based power plants remain an important cog, accounting for 69-71% of total power generation because of the intermittent nature of RE with lower PLFs3.
Egbin Power reassured that it would continue to break new grounds and forge ahead in bringing energy to life responsibly, as the Board and Management are determined to drive consistent growth through technological innovations, continuous investments in human capital development, thinking globally and acting locally, and deploying best practices in its operations.
The Indian power ministry has requested utilities to import 6% of their coal requirements until March, as rising power demand and insufficient domestic coal supply have raised concerns about dwindling coal stocks at power plants.
The Indian government is expected to order power generators to increase their use of imported coal for blending to at least 6% of their requirement, up from the current 4%. This comes as coal stocks at power plants continue to deplete, with the stock down to 18.4 million tonnes as of October 15. The decrease in stocks is due to higher demand for electricity and lower wind and hydro power generation in some states.