14 Bidders in Fray for LNG Subsidy to Stranded Power Plants
The government on Tuesday started the auction for subsidy to import natural gas for restarting the stranded power plants, with 14 bidders including GMR, GVK and Lanco in the fray.
Stranded plants with 8,100 MW capacity have been registered for this round of bidding for which the government subsidy outgo will be Rs 792 crore.
Power producers bidding for the lowest subsidy will get the first right over the fuel.
According to a senior Power Ministry official, this round of bidding is for 8.9 MMSCMD (million standard cubic metres per day) gas required to start the stranded gas-based plants during the June-September period this year.