New Delhi: Infrastructure major Lanco today bagged two power projects with a total capacity of 3,300 megawatt, envisaging an investment of 14,000 crore, after outbidding Anil Ambani group's Reliance Power. Other firms like NTPC and Jindal Steel Power were also in the fray for these two projects in Uttar Pradesh. "The group needed to invest around Rs 14,000 crore for developing the two projects in Uttar Pradesh. With the addition of two projects, Lanco would now have a total capacity of around 13,000 MW, covering both operational and those under implementation and development," Lanco Infratech Chairman Lagadapati Madhusudhan Rao said in a release.
The projects -- Prayaraj and Sangam -- would generate 1,980 MW and 1,320 MW power respectively, the release stated. The company had bid Rs 2.88 per unit for the Prayaraj project and Rs 2.838 per unit for the Sangam project. Reliance Power was the second-lowest bidder at Rs 2.94 per unit and Rs 3.051 per unit respectively. Uttar Pradesh Power Corporation Ltd conducted the bidding process on behalf of the state government. As per the terms of the bids, 90 per cent of the power generated through these projects would be sold to the Uttar Pradesh Government and the remaining 10 per cent in the market.