LoI for 4,000 MW Tilaiya UMPP project

New Delhi: Anil Ambani-led Reliance Power will be issued a letter of intent (LoI), for the 4,000-MW Ultra Mega Power Project at Tilaiya in Jharkhand, which has emerged as the front-runner for the UMPP.

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.

The project would entail an investment between Rs 16,000 and Rs 18,000 cr, to be developed on a debt equity ratio of 70:30.

The financial and technical bids for the coal-based thermal power project were invited on December 29, 2008, and the final financial bids were to be opened within 15 days.

Tilaiya is the third UMPP to be bagged by Reliance Power. It has already been awarded the Sasan (Madhya Pradesh) and Krishnapatnam (Andhra Pradesh) projects. Five companies, NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterli te Energy, of the 11 pre-qualified bidders submitted their bids for the project.