A recent order from India’s top regulatory authority for the energy sector threatens to impose costs that run into trillions of rupees on several states and undermine the sanctity of Power Purchase Agreements (PPAs) across the country. It could also undermine contractual laws and established procedures for tenders and bids for government contract
The latest decision by the Central Electricity Regulatory Commission (CERC) to allow fuel cost pass through for Adani Power’s Mundra project through a supplementary PPA is a major positive sign for imported coal-based Independent Power Producers (IPPs), ratings agency ICRA said today.
Adani Power shares fell 4.5 percent in the morning trade on April 15 after global research house CLSA retained sell call on the stock despite the power regulator allowed higher tariff for Mundra unit.
In a move that may set a precedent and raise electricity tariffs, India’s apex power sector regulator on Friday approved the revised power purchase agreements (PPAs) for billionaire Gautam Adani’s promoted Adani Power Ltd’s Gujarat plant on account of the unexpected increase in the prices of imported coal.
Adani Power shares rallied nearly 9 percent intraday on April 12 after the power regulator approved higher tariff for the Mundra unit. But there was some profit booking towards close, which trimmed gains and the stock closed at Rs 52.95.
Adani Power Monday said it has been awarded a letter of intent to acquire debt-laden Korba West Power Company.
“The company has been awarded the letter of intent (LOI) for Korba West Power Company Ltd (KWPCL).
Tata Power Company Ltd’s shares rose as much as 3.49 per cent to Rs 77 rupees, while Adani Power Ltd climbed as much as 6.47 per cent to Rs 51.85 today
Days before the Lok Sabha election dates were announced, the government paved the way for Adani Power Limited (APL) to set up India’s first power sector special economic zone (SEZ) by amending guidelines.
In a major relief to greens, the National Green Tribunal, principal bench, New Delhi, has directed the state government to carry out a carrying capacity study in the region where Adani’s Udupi Power Corporation Limited is situated.
Adani Power Maharashtra (APM), which operates 3,300 mw of thermal power plant Tiroda in the Vidarbha region, cannot escape from its responsibility to fully utilize the fly ash as per its commitment and action plan submitted to the union ministry of environment of fores