The PPA agreement was made for the 600 mw Roja Thermal Power project taken up by Reliance Energy Limited (REL), 330 mw Srinagar Hydro project at Uttaranchal by GVK Group, while 1000 mw Anpara C Thermal power project by the Lanco Kondapalli Power Limited (LKPL). All the three projects would be completed in 2010 with an investment of over Rs 10,500 crore.
Chief Minister Mulayam Singh Yadav, who was the chief guest on the occasion, said his government has taken keen a interest in the public-private participation in creating self-sufficiency in the power sector.
''I can only assure the investors that they won't have to suffer by investing in UP'', he said adding his government was also against the culture of 'suitcase' presentation before the start of any private project.
He also appealed to the opposition and the Central government to support the state's aim to create a conducive atmosphere for the investors.
UP Development Council Chairman Amar Singh said the charges of the opposition terming the SP government as ' Andher Nagnagri, Chaupat Raja' has proved wrong with large scale investments by the private entrepreneurs.
He added the bidding of the Anpara C power project was conducted in a very transparent manner in which Lanco Kondapalli got the deal by defeating Reliance.
''although Anil Ambani is close to my heart, but still, Reliance could not get the Anapara C project as the state government wants transparency in the bidding process'', he maintained.
REL Chairman Anil Ambani, GVK Group Chairman GVK Reddy and Lanco Kondapalli Power Limited Chairman L Madhusudan Rao were present when the PPA was signed.
The PPA for the Roja unit was Rs 2.15 per unit, while Lanco had already given a record lowest tariff of Rs 1.91 per unit for the Anpara C unit.
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