A letter of intent, for the 4,000-MW Ultra Mega Power Project at Tilaiya in Jharkhand, will be issued today to Anil Ambani-led Reliance Power, which has emerged as the front-runner for the UMPP. Five companies -- NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterlite Energy, of the 11 pre-qualified bidders submitted their bids for the project.
Reliance Power was the L1 (lowest) bidder for the Tilaiya UMPP in Jharkhand, for which the financial bids were opened on January 28, last month. This is the third UMPP to be bagged by Reliance Power.
It has already been awarded the Sasan (Madhya Pradesh) and Krishnapatnam (Andhra Pradesh) projects. The project would entail an investment between Rs 16,000 and Rs 18,000 crore, to be developed on a debt equity ratio of 70:30.