Sasan UMPP handed over to Reliance Power

New Delhi, Aug 7 (UNI) Government today handed over the 4,000 MW Sasan Power Ltd Ultra Mega Power Project (UMPP) to Reliance Power Ltd which had quoted a levelised tariff of Rs 1.196 per unit for the venture in Madhya Pradesh.

The power purchase agreement (PPA), escrow and hypothecation agreements were signed in the presence of Power Minister Sushil Kumar Shinde.

The 'Letter of Intent' (LoI) for this project was issued to Reliance Power on August 1.

After a formal handing over ceremony, Mr Shinde said the project will benefit seven states in the country which include the national capital, Uttar Pradesh, Haryana, Punjab and Madhya Pradesh.

''The project will be executed in 69 months. We will later review the process and would complete the project in the 12th plan (2007-2012),'' Reliance Energy Chairman Anil Ambani told reporters.

There are challenges in the project including mining of coal and the project will require 15 million tonnes of domestic coal, Mr Ambani said.

UNI