Reliance Power bags 4,000 MW Krishnapatnam UMPP

New Delhi, Nov 8 (UNI) Anil Dhirubhai Ambani Group's Reliance Power today said it bagged the imported coal-based 4,000 MW Krishnapatnam Ultra Mega Power Project (UMPP) in Andhra Pradesh, emerging as the lowest bidder at Rs 2.33 per unit.

Reliance Power outbid engineering major Larsen and Toubro (L&T) at Rs 2.69 per unit and Sterlite Industries which had quoted Rs 4.19 per unit, sources close to the deal told UNI.

This is the company's second UMPP under its hat after clinching the Sasan Ultra Mega Power Project at Chhattisgarh.

Reliance Power, however, refused to comment on the development.

Power Finance Corporation, the nodal agency for handling UMPPs, had also invited fresh bids in September for the 4,000-MW Tilaiya Ultra Mega Power Project in Jharkhand.

To meet the electricity demands, the Government has proposed the setting up ten UMPPs of 4,000 MW each which would be built through a special purpose vehicle or a shell company.

UNI