Reliance Power appears to be in the lead for the 3,000-MW long-term power purchase agreement called for by the Uttar Pradesh Power Corporation.
Sources said six bidders were in fray for the PPA with the UP state agency, of which two failed to qualify.
Reliance Power's bid committing 2,456 MW was said to be among the lowest received with the tariff offering being Rs 3.70/ unit.
The bids were submitted on October 11, 2010 and opened on February 4.
The scheduled delivery is from 2014 — 48 months from the date of signing of the PPA, which is expected to be signed in a month.