Reliance Power bags Sasan

Matches Lanco-Globeleq price.

The three months of uncertainty over the 4,000 Mw Sasan ultra mega power project is finally over. Anil Dhirubhai Ambani Group (ADAG) company Reliance Power Limited (RPL) has bagged the project after matching the tariff of Rs 1.196 per unit quoted by the original winning bidder, a consortium of Singapore-based Globeleq and Hyderabad-based Lanco Infratech, which was disqualified.

After an hour-long meeting, the empowered group of ministers (EGoM) today awarded the Rs 20,000 crore project in Madhya Pradesh — the country’s largest thermal power project — to Reliance Power.

“Sasan Power Limited had received revised offers from three bidders that included Jai Prakash Associates, NTPC Limited and Reliance Power Limited and the revised bid of Reliance Power quoting a levellised tariff of Rs 1.196 per unit was the lowest,” said Power Minister Sushilkumar Shinde, who also heads the EGoM.

The EGoM has asked Sasan Power to award RPL the letter of intent (LoI) for the project, the minister said. Sasan Power Ltd is the shell company floated by the Power Finance Corporation to pilot the Sasan project. Read more at Business Standard