Patna, Oct. 3: Bihar State Electricity Board (BSEB) has floated fresh tenders to purchase 750MW of power from the open market — both for short- and medium-term periods.

The aim is to ensure adequate power supply to consumers in the state, particularly the residents of the capital that has been facing acute electricity scarcity.

BSEB today invited bids for procurement of 300MW on a short-term basis for a period of three months — between December 2011 and February, 2012.

The board had on Saturday issued tenders, inviting bids to procure 450MW of power from the open market as part of the medium term plan, for which power supply would be available from March 2012 to December 2015.

According to the medium-term plan, power purchase agreement (PPA) is signed for a period of one to seven years. On the other hand, a short-term plan is for a period less than a year.

“After signing PPA with NTPC Vidyut Vyapar Nigam Ltd (NVVNL) for supply of 300MW of power for three months, we issued a fresh tender to purchase an additional 300MW from the open market as part of the short-term plan,” a senior BSEB official told The Telegraph.

The power board had signed an agreement with NVVNL for purchasing 300MW of power to ensure electricity supply for a period of three months — September, October and November. The company is at present supplying 300MW of power to the board.

The four companies that submitted their bids are Tata Power, NVVNL, PTC India Ltd (formerly known as Power Trading Corporation of India Ltd) and Mittal Processor.

Asked when the bids would be opened, the official said: “We have to complete the process (of signing PPA with the prospective successful bidder) by November 15. We have to ensure supply of 300MW from December to the people of the state.” This would be in addition to the power what the state receives from the central sector.

BSEB expects to sign PPA for purchase of a few hundred MWs, the source said. “The board can purchase 300MW of power provided the rate of electricity quoted by the companies were justified and affordable,” the source added.

The deal, if materialises, would provide the board much relief in dealing with the power problem as electricity would be available at once, unlike the one in which the board had signed an agreement with Essar Power for supply of 450MW for a period of 25 years from July 2014.