Tata Power leads with lowest bid for Mundra power project; Lanco leads in Sasan

Mumbai: Tata Power has emerged as the lowest bidder for the 4,000 MW ultra mega power project to be set up at Mundra in Gujarat while Lanco Infratech emerged the lowest bidder for the 4,000 MW Sasan ultra mega power project in Madhya Pradesh, outsmarting Tata Power, Reliance Energy and seven other contenders.

In price bids of six contenders for the imported coal-based projects opened by the nodal agency Power Finance Corporation, Tata Power quoted a tariff of Rs2.26 per unit for the Mundra project outbidding Reliance Energy and four other contenders.

Other companies in the fray were engineering giant Larsen & Toubro, Ruias-controlled Essar Power, Vedanta group firm Sterlite Industries and Adani Exports Ltd.

For the Sasan project, the Lanco-Globoleq combine quoted a bid of Rs1.196 per unit, requiring an investment of Rs16,000-20,000 crore.

Of the 10 bids received for the Sasanb project, Reliance Energy quoted a tariff of Rs1.29 and Tata Power Rs1.41 per unit, while state-run NTPC Ltd bid much higher, power secretary R V Shahi said.

The Sasan project is likely to achieve financial closure within six months and the first unit of the Sasan project would start generation by the end of 11th plan.