Uttar Pradesh Power Corporation will get 40 paise per unit cheaper electricity from Prayagraj Power Generation Company’s plant at Bara in Prayagraj district, which will translate into savings to the tune of Rs 500 crore annually.
An arm of Tata Power-backed Resurgent Power Ventures, Renascent Power Ventures — which has acquired 75.01 per cent stake in the Bara power plant — will be offering 40 paise per unit cheaper electricity to Uttar Pradesh Power Corporation Ltd (UPPCL) under revised terms of power purchase agreement, a source said.
UPPCL is the company responsible for electricity transmission and distribution within the Indian state of Uttar Pradesh.
The revised PPA would also be approved by the state power regulator while disposing off the plea. Read More