REL bags Sasan project; to invest Rs 20,000 cr

With the lowest levelised tariffs bid of Rs 1.196 per unit, Reliance Power, a subsidiary of Reliance Energy, has won the 4,000 MW Sasan Thermal Power Project, through a process of international competitive bidding.

The company emerged successful in the revised evaluated bids for the project.

Anil Dhirubhai Ambani, chairman, Reliance Energy, said: "We are delighted to have won India's largest Ultra Mega Power Project through an international competitive bidding process. We look forward to building this world class infrastructure facility. The Rs 20,000 crore (Rs 200 billion) investment in the Sasan project will contribute to accelerating India's economic growth by substantially raising the current generation capacity".

An empowered group of ministers (eGoM) on Monday asked Sasan Power to award REL the letter of intent for the project, which last week saw the bid of previous lead developer Lanco-Globleq consortium declared as invalid.

Following the disqualification of Lanco-Globleq consortium, Sasan Power had asked three other bidders - REL, NTPC and Jayprakash Associates - to submit fresh bids.

Subsequently, REL quoted a price that is lower than the price quoted by the Lanco consortium. NTPC and Jayprakash Associates, however, did not change their bids.