Anil Ambani takes over 12,000 cr Sasan Power
At last, the Anil Ambani-led Reliance Power Ltd has bagged the Rs 12,000 crore Sasan Power Project with an installed capacity of 4000 MW.
By INDIATIMES NEWS NETWORK |
NEW DELHI: At last, the Anil Ambani-led Reliance Power Ltd has bagged the Rs 12,000 crore Sasan Power Project with an installed capacity of 4000 MW. The project would be set up in the Sidhi District of Madhya Pradesh.
Power Minister Sushil Kumar Shinde transferred the shell company, Sasan Power Ltd to ADAG Chief Anil Ambani in the capital on Tuesday.
This brings to an end a bitter corporate feud that unfolded after the Lanco group was initially selected as the lowest and preferred bidder to execute the Sasan Power Project.
Following disqualification of Lanco, the second lowest bidder, Reliance Power Ltd matched the tariff to Rs 1.196 per unit.
Sasan Power Project is the first ultra mega power project that was taken up for execution by the nodal agency, Power Finance Corporation (PFC).
Now, the Reliance Power will execute six units of 660 MW each.
The Power Purchase Agreement, Escrow and Hypothecation Agreements were signed between Anil Ambani’s Reliance Power and PFC.
Letter of Intent (LoI) for this Project was issued to Reliance Power Ltd on August 1.
Power Minister Sushil Kumar Shinde transferred the shell company, Sasan Power Ltd to ADAG Chief Anil Ambani in the capital on Tuesday.
This brings to an end a bitter corporate feud that unfolded after the Lanco group was initially selected as the lowest and preferred bidder to execute the Sasan Power Project.
Following disqualification of Lanco, the second lowest bidder, Reliance Power Ltd matched the tariff to Rs 1.196 per unit.
Sasan Power Project is the first ultra mega power project that was taken up for execution by the nodal agency, Power Finance Corporation (PFC).
Now, the Reliance Power will execute six units of 660 MW each.
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The Power Purchase Agreement, Escrow and Hypothecation Agreements were signed between Anil Ambani’s Reliance Power and PFC.
Letter of Intent (LoI) for this Project was issued to Reliance Power Ltd on August 1.
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