Indiabulls Power Services, a subsidiary of Indiabulls Real Estate, is learnt to have won the bid to set up Chhattisgarh State Electricity Board's 1,600 MW Bhaiyathan thermal power project in Surguja district. The letter of intent (LoI) is likely to be awarded soon.

Indiabulls Power won the contract outbidding GMR Group and Sterlite Industries. The company placed the lowest bid of 81 paise per kWh for the proposed project, whereas GMR and Sterlite put in bids of 88 paise per unit and 89 paise per unit respectively. Others in fray included Reliance Power and Tata Power.

Of the total power to be generated from the project, 65 per cent will be supplied to the host state at a tariff of 81 paise per unit, while the balance 35 per cent will be sold to private consumers and industries.

The project will be developed on BOT basis and will also include a 350 million tpa coal block.

Also See:

Twenty one firms to bid for Bhaiyathan power project (30-Mar-07)

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