Bharat Heavy Electricals Limited has emerged as the lowest bidder by outbidding Alstom for developing the 740 MW gas based power project at Pallatana in Tripura on EPC basis. While BHEL quoted INR 2,500 crore, Alstom's quote was of the order of INR 5,000 crore.

ONGC Tripura Power Company is an SPV floated by ONGC with 50%, Tripura government with 0.5% and IL&FS with 26% for implementing the project. The balance 23.5% stake will be tied up with suitable investors.