Reliance Power (RPL), a subsidiary of Reliance Energy Ltd, has bagged the 4,000 MW Sasan ultra mega power project. On re-invitation of bids, RPL matched the tariff of Rs 1.1962 per unit earlier quoted by the orignal winning bidder, a consortium of Singapore-based Globaleq and Lanco Infratech.

The Empowered Group of Ministers on ultra mega power projects, headed by the Union power minister Sushil Kumar Shinde met for the fifth time on 30 July 2007 and decided to re-award the project to the Reliance company.

Following the cancellation of the project award to Lanco consortium, Sasan Power Ltd, the special purpose vehicle set up by PFC for setting up the project, had asked three other bidders RPL, NTPC and Jaiprakash Associates to submit fresh bids. While RPL submitted a revised bid, NTPC and Jaiprakash Associates did not change the prices.

Lanco had earlier outbid REL with a tariff bid of Rs.1.196 per unit but the consortium later broke after Globeleq sold its stake to Lanco and Jindal Steel and Power Ltd which was declared invalid after it was alleged that Lanco misrepresented facts during the bidding process.

Also See:
Sasan project to meet its fate on Monday (28-Jul-07)

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