NEW DELHI: All private companies have walked out of the bidding process for two ultra-mega power projects in Odisha and Tamil Nadu, leaving state-run generation utility NTPC as the sole contender for the plants entailing an investment of about Rs 50,000 crore.
Adani Power, Jindal Power, Sterlite and GMR have written to PFC Consulting, the agency advising the government on the projects, saying they were pulling out of the bidding process due to terms to be too stringent for viability.
These companies along with NTPC had bought RFP (request for proposal) required for submitting price bids, on the basis of which the winner is decided.
The two projects had been dogged by delays over the bidders' reservations. Tata Power, Adani, JSW Energy, Jindal Power, Sterlite, CLP, L&T, NTPC and NHPC were among the pre-qualified firms for the Odisha project. For the Tamil Nadu plant, NTPC, Adani, CLP, GMR, Jindal, JSW Energy, Sterlite and L&T were pre-qualified.
ToI had first reported on June 18, the Adani group, CLP, GMR group, Jindal Steel & Power, JSW Energy and Tata Power had expressed unwillingness to submit their price bids, seeking "comprehensive" review of the bid terms to make them more predictable and viable.
On July 16, ToI also reported power minister Piyush Goyal meeting the promoters, who narrowed down the sticky points to three main areas. The main suggestion was to switch from DBFOT (design, build, finance, operate and transfer) to BOO (build, own, operate) model in the bidding document. On fuel costs, the companies proposed that for the captive mine-based Odisha project, fuel charge be paid at actual at a price determined by the coal regulator. In case of the imported coal-based Tamil Nadu unit, the idea was to link fuel price to a basket of indices approved by the central tariff regulator.
The latest development is expected to delay the projects further at a time when it is pushing to ramp up generation capacity quickly. Unless, as some say, the government decides to go ahead with NTPC. But that could raise questions over legality.
Source : TOI...
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