December 02, 2008

PFC defers RFP for Krishnapatnam UMPP to September 21st

FE reported that Power Finance Corporation has once again deferred the submission of request for proposal to September 21st 2007 for the 4,000MW Krishnapatnam ultra mega power project in Andhra Pradesh. Originally, the submission of Request for Proposal was slated for March 9th 2007, which was deferred to April 11th 2007 and subsequently to May 25th 2007 and thereafter to August 24th 2007.

As per report, qualified bidders including TATA Power, Reliance Energy Ltd, NTPC, Essar, Sterlite, L&T, Torrent, AES, DS Construction and Sumitomo were in the midst of completing the necessary formalities including the bid bond of INR 120 crore to meet the deadline of August 24th 2007.

Power Finance Corporation roadmap for the bidding process for Krishnapatnam project had envisaged issuance of notice for request for qualification bidding process issue of RFQ documents, submission of bids, issue of Request for Proposal, submission of Request for Proposal, selection of developer, transfer of special purpose vehicle.

However, Power Finance Corporation time table has already gone haywire as it was recently involved in the resolution of controversy over the Sasan UMPP for the alleged misrepresentation made by Globeleq Singapore Lanco consortium. However, after the decision by the empowered group of ministers, the Globeleq Singapore Lanco consortium has been disqualified and the Sasan project been awarded to Reliance Energy Ltd.