Tata Power, Reliance Power among 13 cos in fray for Jharkhand ultra mega project

New Delhi: Tata Power and Reliance Power, along with state-owned NTPC Ltd, are among the 13 companies which have submitted initial bids for setting up the pit-head based Tilaiya Ultra Mega Power Project in Jharkhand.

Power Finance Corporation, the nodal agency for handling these 4,000 MW each projects, received Request for Qualifications (RfQ) from 13 companies for the project on the closing day for submitting initial bids today.

Others include Lanco Infratech, L&T, Essar Power, Sterlite Industries, Jindal Steel and Power, Torrent Power, GVK, AES and Dian Wijaya (Malaysia), sources said.

The evaluation committee is expected to scrutinise the bids within 15 days, after which the request for proposals or price bids would be invited. As per the RfQ document, PFC will shortlist the bids for Tilaiya by December 14. PFC has formed a special purpose vehicle - Jharkhand Integrated Power Ltd - for the project which would be transferred to the qualifying bidder.

The Tilaiya project is the fourth in a row after Sasan, Mundra and Krishnapatnam projects. While the Sasan and Mundra projects have already been awarded to Reliance Power and Tata Power, respectively, price bids for the Krishnapatnam plant were opened last week. Reliance Power has emerged as the lowest bidder for the Krishnapatnam project, outbidding engineering firm L&T and Vedanta group firm Sterlite.

Reliance Power bid Rs 2.336 per unit as the levelised tariff for 25 years, while Larsen & Toubro quoted Rs 2.68 per kWh. Sterlite Industries quoted a much higher tariff of Rs 4.81 a unit. The letter of intent for the project is expected to be awarded shortly by the Power Minister, Mr Sushilkumar Shinde.