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Punjab power project draws a huge response

NEW DELHI: The Government’s first-of-its-kind initiative in the power sector to deal with the rising demand for electricity in Punjab and adjoining States has evoked a huge response with leading private sector players led by Essar Power Ltd, Reliance Energy Ltd, GVK Power and Infrastructure submitting request for qualification (RFQ) bids.

The Punjab State Electricity Board (PSEB) has envisaged development of the Talwandi Sabo Thermal Power Project (TPP) with an installed capacity of 2,000 MW through a developer to be selected through tariff-based international competitive bidding process.

It has appointed the Power Finance Corporation (PFC) as consultant for overall development of the project including handing it over to the private developer.

The power project is proposed to be set up at Banawala village near Talwandi Sabo in Mansa district. PSEB has created a special purpose vehicle (SPV) named Talwandi Sabo Power Limited (TSPL), fully owned by PSEB, to facilitate the selection of a developer. The SPV will be transferred to the successful bidder or developer.

The selected developer will enter into a supply agreement with PSEB for 25 years.

According to official sources, the project has been received positively by the prospective developers and ten companies have submitted responses to the RFQ for taking up the project.

These include Essar Power, Gujarat Paguthan Energy Corporation Pvt. Ltd, Sterlite Industries Ltd, Torrent Power Ltd, GVK Power & Infrastructure Ltd, Reliance Energy Ltd, Lanco Infratech Ltd, Jindal Steel and Power Ltd, Larsen & Toubro Ltd and Devona Thermal Power and Infrastructure.

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