The Power Ministry has scrapped the bidding process for two ultra-mega power projects of 4,000 MW each proposed to be built in Odisha and Tamil Nadu after all private players walked out, leaving State-run NTPC and NHPC as the sole contender for each project. The step is a strategic retreat by the ministry, taken with the aim of refreshing the bid terms for a more conducive regime for the projects that would entail a combined investment of Rs 50,000 crore.
¨Unfortunately, we did not get enough bids. We have had to scrap the process; it´s a process which was initiated before this government came in. I thought it was not prudent to keep extending the date without any possible solution,¨ Power and Coal Minister Piyush Goyal said.
The ministry is likely to appoint an expert panel to examine whether the bidding documents were fair to all stakeholders. Bidders have complained of bid documents not having provided a fair methodology.
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