Lucknow, May 6 -- In a step towards energy self-reliance, the Uttar Pradesh government has decided to purchase 1,500 MW power from a 1,600 MW thermal project through a 25-year bid under the Design, Build, Finance, Own and Operate (DBFOO) model.
A proposal was approved during a meeting of the state cabinet which was chaired by Chief Minister Yogi Adityanath at Lok Bhawan on Tuesday.
Awarded to the lowest bidder at Rs 5.38 per unit, the deal is expected to save UP Power Corporation Limited (UPPCL) around Rs 2,958 crore. Power supply is set to begin by 2030-31 at a competitive rate of Rs 6.10 per unit, significantly cheaper than current thermal sources charging Rs 6.60 to Rs 9 per unit.
This project offers electricity at a significantly ...