Lone company for Rajpura project 'Lanco Infratech' quoted 3.38 paise per unit
GAGANDEEP AHUJA
Tuesday, 16 December 2008
PATIALA: Lanco Infratech, the sole bidder of the 1320 MW coal-based Rajpura Thermal Power Project -- involving an investment ranging between Rs 5,000 and 6,000 crore -- has quoted Rs 3.38 per unit as levelised tariff for the project.

Punjab State Electricity Board (PSEB) today opened the financial bid for the Rajpura thermal power project. "We have received Rs 3.38 per unit as levelised tariff from the Lanco Infratech for the Rajpura power project,'' a senior official of PSEB said on Tuesday.

The project has been proposed to be awarded to developers on Build, Own and Operate (BOO) basis, through Tariff-based International Competitive Bidding (ICB).

The PSEB board comprising Chairman, Power secretary, Member Finance and technical section would now decide on whether to accept the bid or not. "If the PSEB board accepts the bid, then it will have to further seek approval from Punjab State Regulatory Commission (PSERC) for allotting the project to the said company,'' an official said.

The market fluctuations caused by the global downturn compelled the other power companies not to bid for this project, an official said. If the board, which is also the procurer of power, does not find the bid suitable then it can again seek bids from n ine qualified bidders within next 150 days, he said.

Other companies which were adjudged qualified bidders were Reliance Power, Tata Power, Essar Power, L & T Power Development Limited, Gujrat Paguthan Energy Corporation Private Limited, Sterlite Energy Limited, Consortium of JSW Energy and Infrastructure Development Finance Company and Indiabulls Power Generation Limited.