Monday, July 30, 2007

Reliance Power Ltd bags Sasan Ultra Mega Power Project

The government on Monday awarded the 4,000 MW Sasan Ultra Mega Power Project to Reliance Power Ltd (RPL), a subsidiary of Reliance Energy Limited. The project is the largest domestic coal based power project in the country at a single location.

Reliance emerged as the successful bidder in the revised bids for the project with the lowest bid of levelised tariffs of Rs 1.196 per unit. The eGoM has asked Sasan Power Ltd to award RPL the letter of intent for the project, which last week saw the bid of previous lead developer Lanco-Globleq consortium declared as invalid.

Initially, Lanco had outbid REL with a tariff bid of Rs 1.196 per unit. The consortium later broke after Globeleq sold its stake to Lanco and Jindal Steel and Power Ltd.

The bid was declared invalid after it was alleged that Lanco misrepresented facts during the bidding process.

Sasan Power Ltd, the special purpose vehicle set up by Power Finance Corporation for setting up the project, had asked three other bidders - RPL, NTPC and Jaiprakash Associates - to submit fresh bids. NTPC and Jaiprakash Associates, however, did not change the prices.

The eGoM directed the matter to be put before the board of Sasan Power Ltd for "expeditious action."
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1 comments: on "Reliance Power Ltd bags Sasan Ultra Mega Power Project"

pptripathi said...

reliance energy has indian crown.