Mumbai: Tata Power Company (TPC) and BSES Ltd, lead contenders for bankrupt Enron's Dabhol Power Company (DPC), are now "most sought" power utilities by global energy majors like Gaz de France, TotalfinaElf and Royal Dutch Shell as potential partners for consortia bidding to buy 85 per cent foreign equity of the 2,184 power project.

"Though the eight companies have submitted expression of interests (EOI) separately, both TPC and BSES are now in a commanding position as five of these potential bidders are energy companies and will have to associate themselves with either of the power companies for a joint-bid due to Enron's unwillingness to bifurcate its project," a senior financial institution official said on February 9.

Apart from TPC, BSES and Gas Authority of India Ltd (GAIL), the Industrial Development Bank of India (IDBI) led team of Indian lenders to DPC have received EOIs from Reliance Industries Ltd, British Gas, Royal Dutch Shell, Totalfina Elf and Gaz de France.

"It is not the state-of-the-art power project which has proved to be attractive, let alone GAIL, but the five million tonne Liquefied Natural Gas (LNG) re-gassification facility seems to have proven more lucrative for these foreign energy majors," he said.

The official said Gaz de France had already initiated talks with TPC and BSES, while Totalfina is weighing an option to either re-approach its former INDIGAS partner or BSES.

"In case of Shell, we are told it has been approached by GAIL and both are exploring a possibility of holding initial talks with city-based utilities," he added.

PTI