May 17, 2008

China Light is lowest bidder for Haryana power project

It is reported that Hong Kong based China Light & Power Holdings Limited has emerged the lowest bidder for setting up Haryana Power Generation Corporation's 1,326 MW thermal power project at Jhajjar in Haryana.

The bids were opened on March 17th 2008 and the letter of intent is likely to be awarded by end of March 2008. China Light outbid Lanco Infratech and Torrent Power by quoting per tariff of INR 2.996. Lanco emerged as second lowest bidder at INR 3.046 per unit, while Torrent Power followed at INR 3.82 per unit.

The proposed power project with an investment of INR 7,000 crore will be implemented in two units of 660 MW each. Around 1,215 acres of land has been acquired for the project and letter of intents for environment impact assessment and geo technical studies have already been completed. Draft detailed project report has been prepared from Desein and is in the final stages. The project will get coal linkage from Coal India's North Karanpura fields. The first phase of 660 MW is expected to become operational within 42 months from the signing of the power purchase agreement.

China Light will have to sell 90% of power to Haryana Power Generation Corporation Limited and the balance 10% outside Haryana.