Anil Ambani group firm Reliance Power Ltd, which successfully bid for executing the Sasan ultra mega power project, on Wednesday received a Letter of Intent from Sasan Power Ltd for setting up the 4,000 MW plant in Madhya Pradesh at an estimated cost of Rs 20,000 crore.
SPL, a subsidiary of Power Finance Corporation, is expecting land acquisition notification and environmental clearances shortly. The project would be handed over to RPL soon, PFC Director (Projects) and SPL chairman Shyam Wadhera said here.
RPL, a subsidiary of Reliance Energy, was given the LoI after it put in a bid of Rs 1.19 per unit for the project that was initially given to Lanco-Globeleq consortium.
Coal Ministry has also agreed to provide a block for the Sasan project. The block was earlier allotted to NTPC, but the state-run generation major has now been given another larger block. Reliance Energy has also tied up with a foreign company for getting 660 MW capacity equitment such as boilers.
On disqualification of Lanco-Globeleq, Wadhera said there was no misrepresentation by Lanco and their bid was cancelled essentially due to wrong information provided by Globeleq. PFC will refund Rs 119 crore from Lanco's bid bond, after deducting Rs one crore, he added.
Reliance Power outbid NTPC Ltd and Jaiprakash Associates to bag the project. Sasan project is among the nine such mega projects to be set up by private players through a tariff-based competitive bidding process.
SPL, a subsidiary of Power Finance Corporation, is expecting land acquisition notification and environmental clearances shortly. The project would be handed over to RPL soon, PFC Director (Projects) and SPL chairman Shyam Wadhera said here.
RPL, a subsidiary of Reliance Energy, was given the LoI after it put in a bid of Rs 1.19 per unit for the project that was initially given to Lanco-Globeleq consortium.
Coal Ministry has also agreed to provide a block for the Sasan project. The block was earlier allotted to NTPC, but the state-run generation major has now been given another larger block. Reliance Energy has also tied up with a foreign company for getting 660 MW capacity equitment such as boilers.
On disqualification of Lanco-Globeleq, Wadhera said there was no misrepresentation by Lanco and their bid was cancelled essentially due to wrong information provided by Globeleq. PFC will refund Rs 119 crore from Lanco's bid bond, after deducting Rs one crore, he added.
Reliance Power outbid NTPC Ltd and Jaiprakash Associates to bag the project. Sasan project is among the nine such mega projects to be set up by private players through a tariff-based competitive bidding process.
Via: India Economic Times
