Lanco Infratech wins 3300 MW Power Projects in Uttar Pradesh

Lanco Infratech Ltd (LITL) has won two super critical power projects with an installed capacity of 3300 MW in Uttar Pradesh. The bids were called by the Uttar Pradesh Government for development of the two thermal power projects viz., Prayagraj of 1980 MW (3x660 MW) and Sangam of 1320 MW (2x660 MW). As per the terms of the bids, while 90% of power generated through the projects must be sold to the Government of Uttar Pradesh, the remaining 10% could be sold by the successful bidder through the merchant market.

LITL has won both the projects by outbidding other top players like Reliance Power, NTPC and Jindal Steel & Power. The projects include all the required infrastructure linkages like road, water, fuel and rail. From among the four leading business houses that participated in the bid for the Prayagraj Power Project, LITL won the bid with a quote of Rs 2.88 per unit. The second lowest bidder Reliance Power quoted Rs 2.94 per unit, followed by NTPC's Rs 3.44 and Jindal Steel & Power's Rs 3.591. The Sangam Power project had five players in the fray - LITL, Reliance Power, JSW, Jindal Steel & Power and RPG. Here also LITL won the bid through a quote of Rs 2.838 per unit while Reliance Power's was Rs 3.051, CESE's Rs 3.389, JSPL's Rs 3.51 and JSW's Rs 3.545.

LITL will invest around Rs 14,000 crore for developing the two projects in Uttar Pradesh. With the addition of these two projects, Lanco would now have a total capacity of around 13,000 MW, covering both operational and those under implementation and development.