Adani Enterprises informed the stock exchanges that NTPC has awarded contract to the Company for supply of 1 million tonnes of imported coal to its various power plants. The contract has been awarded by NTPC through an elaborate bidding process, started in end of October 2021 followed by reverse bidding 8 negotiations. On Kolkata-based Damodar Valley Corporation Ltd angle, Adani Enterprises said it is a fact available in public domain that NTPC has invited tenders, around same time, on behalf of DVC for procurement of 1 million tonnes imported coal for plants of DVC. The company has submitted its offer against this tender also. However, Adani company said it has no information or communication either from DVC or from NTPC on this tender.Incidentally, 1 million tonnes quantity is merely 2% of the likely volume of import coal trade business of Adani Enterprises in 2021-22.The decision to purchase coal from overseas comes despite the government’s commitment to reduce reliance on fuel imports. Coal accounts for about 70% of India’s electricity generation, and consumption is forecast to rise in the next few years, even as government makes a huge push to add renewables.
Adani Enterprises informed the stock exchanges that NTPC has awarded contract to the Company for supply of 1 million tonnes of imported coal to its various power plants. The contract has been awarded by NTPC through an elaborate bidding process, started in end of October 2021 followed by reverse bidding 8 negotiations. On Kolkata-based Damodar Valley Corporation Ltd angle, Adani Enterprises said it is a fact available in public domain that NTPC has invited tenders, around same time, on behalf of DVC for procurement of 1 million tonnes imported coal for plants of DVC. The company has submitted its offer against this tender also. However, Adani company said it has no information or communication either from DVC or from NTPC on this tender.Incidentally, 1 million tonnes quantity is merely 2% of the likely volume of import coal trade business of Adani Enterprises in 2021-22.The decision to purchase coal from overseas comes despite the government’s commitment to reduce reliance on fuel imports. Coal accounts for about 70% of India’s electricity generation, and consumption is forecast to rise in the next few years, even as government makes a huge push to add renewables.
