The Gujarat government last week passed an order to allow thermal power plants owned by Adani, Tata and Essar groups to pass on the higher cost of coal to discoms, which means that ultimately consumers will bear the brunt of higher power tariffs.
Shares of Tata Power were up 8.5 percent after company says the Gujarat state’s decision to pass on cost of coal procurement will allow it to continue operations at one of its biggest power plants
Tata Power has welcomed the resolution by the government of Gujarat to accept the recommendations of the high power committee in giving relief to Mundra Ultra Mega Power Project that meets nearly 15 per cent of the state’s requirement.
Bringing relief to thermal power plants owned by Tata, Adani and Essar groups, the Gujarat government Saturday passed an order to allow pass-through of higher cost of coal to end consumers, a source said.
Tata Power said on Monday its consolidated net profit rose 85 per cent in the second quarter of FY19 to ₹393 crore, against ₹213 crore in Q2 FY18.
The three-member higher-power panel, formed by the Gujarat government, had recommended passing the burden of high fuel price to consumers, extention of the PPA and haircut to lenders to revive the stressed Adani and Tata Power projects.
With the Supreme Court giving the go-ahead to discoms and stressed power companies — Adani group and Tata Power — to appeal for amendment in power purchasing agreement (PPA) of Mundra projects, it is likely for the consumer
Tata Power Renewable Energy, a fully-owned subsidiary of Tata Power Co Ltd (BOM:500400), intends to grow its rooftop solar business to 1 GW in three to four years from 250 MW currently, according to a top official.
Shares of Tata Power Company (up 13.95 per cent), Reliance Infrastructure (up 9.32 per cent) and Adani Power (up 8.85 per cent) surged in Friday’s session amid reports that the Supreme Court agreed to examine tariffs for Adani and Tata Power.
If Gujarat Govt’s Bailout of Power Plants Is Approved, Consumers and Lenders Will Pick up the Cheque
At a time when dozens of power plants are set to be dragged to bankruptcy courts for defaulting on loans, a high-level panel has recommended a bailout for the Gujarat-based stranded generating stations of Tata Power,
Tata Power Co. Ltd. is among two bidders in the race to acquire Central Electricity Supply Utility of Odisha (CESU Odisha) in what would be the first such deal in nearly two decades in India’s power sector.