21 firms to bid for Chhattisgarh power plant at Bhaiyathan

Mumbai, Mar 29 | Updated: Mar 30 2007, 07:37am hrs
In all, 21 firms including Tata Power, Reliance Energy, Torrent, CESC, Essar, Sterlite and global power major AES Corporation, have purchased tender documents from the Chhattisgarh state electricity board (CSEB) for 1,200-1,500 mw Bhaiyathan power project.

The winning bidder would have the option of selecting the technology and unit size for the project. The proposed power plant would have dedicated captive coal mines at Pathuria and Gidhmuri. The power would be supplied at Raipur load centre.

A CSEB release said,It has called bids with a pre-selected site and captive coal mines. The selected bidder will develop the power plant and supply electricity to the state with a portion of certain percentage for third party sale. SBI Capital Markets (SBI Caps), the investment banking arm of SBI, has been appointed advisor by the Chhattisgarh government.

The project will involve one of the largest private investments in Chhattisgarh and is in line with the vision of transforming the state into one of Indias power hubs. SBI Caps has structured the project and the bids are released for sale. After obtaining the feedback from the bidders, CSEB would take the Chhattisgarh state electricity regulatory commissions approval for the deviation to standard bidding documents, as issued by power ministry. This will ensure energy security in the state.