Tata And Essar Plants in Gujarat Fit For Takeover: NTPC 

Tata And Essar Plants in Gujarat Fit For Takeover: NTPC 

The stressed imported-coal based power plants of Tata Power and Essar Power in Gujarat are fit to be taken over and can be operated without technical glitches, state-run NTPC has found in its technical assessment.

The technical assessment of Adani Power’s Mundra power project is likely to be completed this week and a formal report on the three projects may be submitted by NTPC within a fortnight, sources said. The report assumes importance in the backdrop of offers made by the three companies to Gujarat state electricity generation utility for acquiring their plants for Rs 1 each. Sources said an important meeting is likely to be held on Monday in Gandhinagar.

Likely participants are Gujarat energy minister Chiman Shapariya, state additional chief secretary Sujit Gulati, Gujarat Urja Vikas Nigam Ltd (GUVNL) managing director Pankaj Joshi and lenders including State Bank of India chairperson Arundhati Bhattacharya. A meeting between Gulati and top SBI officials was held on the matter last Friday too.

Sources in GUVNL said the company was considering the offer and it was early to decide on the amount of equity to be acquired and the operations and maintenance of the plants.

Calls and text messages sent on Sunday by ET to Gulati and Joshi remained unanswered.

NTPC carried out the due diligence of the three projects based on a request from distribution companies and lenders to the beleaguered plants. The assessment has been done on technical parameters, including past operational performance of the projects, quality of coal used in the projects, estimated residual life and various other factors.

Source link – ET

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