Lanco, Tata Power bag ultra mega power projects

 Lanco had raised around Rs 1,000 crore from the equity markets to fund its power projects in October . The Lanco management had said at that time that some of the IPO money may be used for funding the UMPP.

 Lanco is currently implementing projects to the tune of 3275 megawatts
in Andhra Pradesh and Tamil Nadu. The projects include the recently awarded 1000 MW brownfield project in Uttar Pradesh, Anpara 3, at a cost of Rs 4,000 crore and the 1015 MW Nagarjuna power project in Karnataka, which Lanco acquired recently, at a cost of Rs 4,300 crore. In addition, the company is also executing a 500 MW hydro project in Sikkim and a 600 MW, Rs 2,600crore Amarkantak project in Chhattisgarh.

PTI adds: Tata Power Comoany has emerged as the lowest bidder for the 4,000 MW Mundra ultra mega power project with a tariff of Rs 2.26 per unit.

State-run Power Finance Corporation, the nodal agency to conduct the bidding for the projects, opened the price bids of the six contenders today for the imported coal-based plant.

Other companies in the fray were Larsen & Toubro, Essar Power, Vedanta group firm Sterlite and Adani Exports.