Reliance Power to receive LoI for Krishnapatnam tomorrow
Reliance Power, which emerged as the lowest bidder for the 4,000 MW Krishnapatnam ultra mega power project, will receive LoI for the project on Tuesday.
By PTI |
NEW DELHI: ADA Group's Reliance Power, which emerged as the lowest bidder for the 4,000 MW Krishnapatnam ultra mega power project, will receive LoI for the project on Tuesday.
Coastal Andhra Power, the special purpose vehicle formed by Power Finance Corp, will award the Letter of Intent (LoI) for the Krishnapatnam project to Reliance Power tomorrow, official sources said on Monday.
Reliance Power quoted a price of Rs 2.33 per unit, while Larsen & Toubro and Sterlite Industries quoted Rs 2.68 per kWh tariff.
Reliance has already secured the Sasan ultra mega power plant in Madhya Pradesh, which would be run on domestic coal.
The Krishnapatnam project is to be operated on imported coal and would require an investment of more than Rs 16,000 crore.
Andhra Pradesh will receive 1,600 MW, while the stakes of Maharashtra, Tamil Nadu and Karnataka will offtake 800 MW each from the project.
Reliance Power has filed the draft prospectus for its expected Rs 12,000 crore initial public offer.
Shares of Reliance Energy, which holds 51 per cent in Reliance Power, were trading at Rs 1,767, up 2.43 on the Bombay Stock Exchange.
Coastal Andhra Power, the special purpose vehicle formed by Power Finance Corp, will award the Letter of Intent (LoI) for the Krishnapatnam project to Reliance Power tomorrow, official sources said on Monday.
Reliance Power quoted a price of Rs 2.33 per unit, while Larsen & Toubro and Sterlite Industries quoted Rs 2.68 per kWh tariff.
Reliance has already secured the Sasan ultra mega power plant in Madhya Pradesh, which would be run on domestic coal.
The Krishnapatnam project is to be operated on imported coal and would require an investment of more than Rs 16,000 crore.
Andhra Pradesh will receive 1,600 MW, while the stakes of Maharashtra, Tamil Nadu and Karnataka will offtake 800 MW each from the project.
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Reliance Power has filed the draft prospectus for its expected Rs 12,000 crore initial public offer.
Shares of Reliance Energy, which holds 51 per cent in Reliance Power, were trading at Rs 1,767, up 2.43 on the Bombay Stock Exchange.
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