PFC releases bid bonds in Mundra Ultra-mega Power

NEW DELHI: After transferring the 4000 Mw Mudra Ultra Mega Power Project to Tata Power, the Power Finance Corporation has the Rs 120 crore bid bonds each to all the six bidders that were in race for the project.

Those who have been returned the bid bonds include Tata Power, Essar Power, Reliance Energy, Sterlite Industries, Adani Enterprises and Larsen & Tourbo Ltd.

Meanwhile, Tata Power who bagged the project has furnished a Rs 300 crore performance guarantee.

In a related development, Environment and Forests Ministry has accorded the Coastal Regulatory Zone (CRZ) and forest clearance.