Moser Baer bags five hydro projects in Himachal Pradesh

Moser Baer has entered Himachal Pradesh’s booming power sector by bagging five of the 14 hydro electric projects offered through the global bidding route with free power, a top state government official said today.

Jindal Steel and Power Ltd secured three projects, while DCM Sriram Infrastructure managed two. All the 14 projects have an aggregate generation capacity of 1,652 Mw. There were 86 bidders for these projects.

Moser Baer secured the 420-Mw Reoli Dugli project with free power bid of 14.4 per cent. Seli (320 Mw) with 14.41 per cent, Teling (69 Mw) with 3.34 per cent, Miyar (90 Mw) with 18.03 per cent, and Sach Khas (149 Mw) with a bid of 13.13 per cent. All these five projects have an aggregate capacity of 1,148 Mw.

Jindal Steel and Power Ltd got the 40-Mw Lara project with a bid of 16.2 per cent, Kuling Lara (40Mw) with 15.3 per cent and Mane Nadang (70 Mw) with a bid 21.90 per cent.

DCM Sriram Infrastruture secured the 90-Mw Khoksar project with a bid of 16.26 per cent and 81-Mw Tinget with 17.26 per cent.

This apart, Patel Engineering Ltd has bagged the 236-Mw Dugar project in Chamba with a bid of about 20 per cent.

The average additional free power for all 14 projects is estimated at 15.5 per cent.

The competetive bidding process will almost double the revenue of the state over the next 40 years, as compared to the MoU route which was adopted until a year ago, sources said. Besides, the state will also get Rs 330 crore as upfront premium at the rate of Rs 20 per Mw.

Tata Power, Essar Power, GMR, Bhilwara Group, Larson and Toubro and the newly created state-run HP Power Corporation were also in the run but were not able to bag any project.

The highest free power 26.1 per cent, over and above the mandatory 12 per cent for the first twelve years.It will be 18 per cent for the next 18 years and 30 per cent for the remaining 12 years.This was quoted for the 7.5 MW Kilhi Bahal in Kangra bagged by the Delhi based ANS Construction company.