Government stitches rescue plan for Tata, Adani power plants

Government stitches rescue plan for Tata, Adani power plants

The biggest rescue package being stitched together for distressed power plants could see lenders take over three imported coal-fired generation stations of the Tata, Adani and Essar groups, involving an estimated investment of over Rs 40,000 crore, and transfer 100% equity for Re 1 to consumers states, including Gujarat where these plants are located.

But the transfer of ownership of these plants, aggregating a capacity of 9,820 MW, will not get the promoters off the hook as far as bank loans are concerned. At a meeting of stakeholders, called by the power ministry on June 20, lenders insisted that the corporate guarantees given by the promoters will continue even after the change in ownership. Read More…

 

Credit By : ET Energy World

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