New Delhi, Jan 29 (UNI) The 4,000 MW Krishnapatnam Ultra Mega Power Project(UMPP) was today handed over to Reliance Power Ltd by the nodal developers, Power Finance Corporation (PFC) which is expected to boost the energy requirements of Andhra Pradesh, Tamil Nadu, Maharashtra and Karnataka.
''The power generated will cost Rs 2.33 per unit for a period of 25 years'', Chairman, Coastal Andhra Power Ltd (CAPL), Satnam Singh said.
Reliance Power's bid of Rs 2.33 per unit was by far the lowest in the auction and the company bagged the contract for Krishnapatnam UMPP. Apart from that Reliance Power had also bagged the Sasan and Mundra mega power projects.
The first unit of 800MW will be commissioned within 68 months from the date of transfer of CAPL to RPL.The other four units of 800MW each will be commissioned within a period of 75,81,87 and 93 months respectively.
''The company is committed to complete the project within the allotted time frame and cost is not an issue as the tariff has been already committed'', Director (Business Development), Reliance Energy Ltd, J P Chalsani said.
The Sasan UMPP is on track, he added when asked about the upcoming power project with per unit cost of Rs 1.96.
The transmission system for evacuation of power is being developed by Power Grid Corporation of India ltd for this project.
UNI AK PDT BD2005 Reliance Power has bagged the Krishnapatnam ultra mega power project and this is likely to make the Reliance Power IPO more attractive to investors. Reliance Power's bid of Rs. 2.33 per unit was by far the lowest in the auction and hence Reliance Power Limited would be awarded the contract for the Krishnapatnam ultra mega power project, as per sources in the Power Ministry. Apart from the Krishnapatnam ultra mega power project, Reliance Power has also bagged the Sasan and Mundra mega power projects