Power Finance Corporation has released
bid bonds of Rs.120 crore each received from the six bidders for the 4,000 MW
Mundra Ultra Mega Power project.
On 23 April 2007, PFC had transferred
- Coastal Gujarat Power Ltd (special purpose vehicle) for the proposed project
to Tata Power Co.
The return of the bid bonds to TPC,
Essar Power, Reliance Energy Generation, Sterlite Industries (India), Adani
Enterprises, and Larsen & Tourbo was announced immediately after TPC furnished
the performance guarantee of Rs.300 crore. This was done as per the provisions
of the request for qualification and request for proposal.
PFC, which is following up for coastal
regulatory zone (CRZ) clearance, forest clearance and acceptance of tariff by
Central Electricity Regulatory Commission (CERC), announced that CRZ clearance
has been accorded by the ministry of environment and forests (MoEF) on 25 April
2007. Forest clearance which has been stuck up in the absence of constitution of
the Forest Advisory Committee (FAC), is also likely to be resolved by 27 April
2007.
Also See:
PFC transfers SPV
for Mundra UMPP (23-Apr-07)