LANCO outbids Reliance, Essar to bag Anpara 1000 MW power project

Hyderabad: Hyderabad-based LANCO Group has outbid Reliance Energy and Essar Group to bag India's first tariff-based competitive bidding for the 1000 MW thermal power project at Anpara in Uttar Pradesh.

The thermal power project, code named "Anpara C", is a fast-track project, and the company says it has all major approvals in hand. The Uttar Pradesh government has already tied up the project's coal and water linkages as also put in place the evacuation line and power purchase agreement with distribution companies promoted by the UP State Electricity Board.

Madhusudan Rao, chairman, Lanco Group, said "We are extremely pleased to win the Anpara power project. We are confident of completing the project in time as we realise the importance of this project for the state in meeting its power needs."

According to the company, with the addition of the Anpara project, it has emerged as the largest independent power project developer in the country. The company has over 500 MW operating capacity and over 3000 MW at various stages of development.

Amongst the significant new contracts signed by Lanco Group includes the three hydro electric power project in Uttaranchal. It has also picked up a 74-per cent stake in the 1015 MW Nagarjuna power project being set up in Mangalore, Karnataka.

The Karnataka power project will be the first Independent Power Project in the country to operate on imported coal while the Uttaranchal power projects will be country's first to market energy on a merchant basis.