LANCO outbids Reliance, Essar to bag Anpara 1000 MW power project
07 Jun 2006
Hyderabad:
Hyderabad-based LANCO Group has outbid Reliance Energy
and Essar Group to bag India's first tariff-based competitive
bidding for the 1000 MW thermal power project at Anpara
in Uttar Pradesh.
The thermal power project, code named "Anpara C",
is a fast-track project, and the company says it has all
major approvals in hand. The Uttar Pradesh government
has already tied up the project's coal and water linkages
as also put in place the evacuation line and power purchase
agreement with distribution companies promoted by the
UP State Electricity Board.
Madhusudan Rao, chairman, Lanco Group, said "We are
extremely pleased to win the Anpara power project. We
are confident of completing the project in time as we
realise the importance of this project for the state in
meeting its power needs."
According to the company, with the addition of the Anpara
project, it has emerged as the largest independent power
project developer in the country. The company has over
500 MW operating capacity and over 3000 MW at various
stages of development.
Amongst the significant new contracts signed by Lanco
Group includes the three hydro electric power project
in Uttaranchal. It has also picked up a 74-per cent stake
in the 1015 MW Nagarjuna power project being set up in
Mangalore, Karnataka.
The Karnataka power project will be the first Independent
Power
Project in the country to operate on imported coal while
the Uttaranchal power projects will be country's first
to market energy on a merchant basis.