Relief is in sight for Rs 50,000 crore mega imported coal-based projects of Tata Power, Adani Power and Essar Power with an expert committee recommending that fuel cost should be passed on to consumers prospectively and that the companies should have the option to extend power purchase contracts by 10 years.
The projects became unviable after Indonesian coal, which would fuel these plants, became costly, but their contracts did not allow them to increase tariffs on this ground.
The Supreme Court ruled last year that the development in Indonesia cannot be considered as change in law under the power purchase agreement. Read more
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