This follows a December 15 deadline set by the Supreme Court. REL submitted the bid in association with Hyundai Engineering Construction Company.
The Mumbai Trans Harbour Sea Link is a 22-km road bridge connecting Navi Mumbai with Mumbai over water. The sea link would be six-lane and would cut short the travel time between Navi Mumbai and Mumbai to 20 minutes from 90 minutes at present.
Mukesh Ambani's Sea King Infrastructure Ltd has already bid for the project.
"We are committed to the development of such projects, which are critical to the infrastructure development of the city," a Reliance Energy spokesperson said in a statement.
The Mumbai Trans Harbour Sea Link Project is expected to cost Rs 4,000 crore and is to be set up in 5 years.
The REL-Hyundai consortium is backed by French consultant Systra and Chinese bridge design company BRDI.
The combine was excluded from bidding for the second stage of the Mumbai Trans Harbour Sea Link project. The firms moved the Supreme Court, which in September termed the exclusion as erroneous.
The apex court had given time till December 15 for the consortium to submit their bid.
Maharashtra State Road Development Corporation has been authorised to look into the 22 km bridge project. In 2006, the state authority disqualified Reliance Energy and Hyundai consortium saying that Hyundai did not have Rs 200 crore net worth that year.
Besides the Ambani brothers, the other bidders for the project include Larsen & Toubro and India Farmers Fertiliser Co-operative-led consortiums