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RPower bags Jharkhand power project

Reliance Power has bagged its third 4,000-mega watt (MW) ultra mega power project (UMPP) at Tilaiya in Jharkhand.

business Updated: Jan 29, 2009 10:33 IST
HT Correspondent

Reliance Power has bagged its third 4,000-mega watt (MW) ultra mega power project (UMPP) at Tilaiya in Jharkhand.

Confirming the move, a power ministry official said, “Reliance Power has emerged the lowest bidder, with a tariff of Rs 1.77 per unit. The financial bids for the project were opened by the government’s nodal agency Power Finance Corporation on Wednesday.”

In contrast, NTPC quoted a tariff of Rs 2.39 per unit followed by Jindal at Rs 2.69 per unit and Sterlite Energy at Rs 2.97 per unit. Lanco, which was also in the fray, withdrew its financial bid at the last minute.

As a result, three out of the four UMPPs announced by the government so far will be developed by Reliance Power. As each project would cost around Rs 16,000 to 18,000 crore, the setting up of these large-sized coal-based power projects would cost Reliance Power Rs 55,000 crore.

Reliance Power has also bagged the Sasan project in Madhya Pradesh and the Krishnapatnam project in Andhra Padesh. Tata Power bagged the Mundra UMPP in Gujarat.