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New Delhi, July 27 The Empowered Group of Ministers (EGoM) on the Sasan Ultra Mega Power Project is likely to take a decision on the fate of the project on Monday. The options before the panel include awarding the 4,000-MW project on the basis of new quotes being negotiated with the three bidders left in the fray or to invite fresh bids for the project.

Earlier on Tuesday, the EGoM had invalidated the Lanco-Globeleq consortium’s winning bid for the Sasan project and had asked the Sasan Power Ltd (SPL), a special purpose vehicle set up by Power Finance Corporation, to examine the future course of action.

The SPL board has asked the three players left in the fray on account of having extended their respective bids — Reliance Energy, NTPC Ltd and Jaiprakash Associates — to match the price quoted by the Lanco-Globeleq consortium. According to a Power Ministry official, the 10 paise tariff difference between the Lanco-Globeleq consortium’s winning tariff bid of Rs 1.196 per unit and REL’s second-placed bid of 1.29 per unit worked out to an extra incidence of over Rs 480 crore per year and around Rs 12,000 crore during the project’s 25-year operation period.

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