No bailout for Tata, Adani power projects in Gujarat

Centre distanced itself from controversy, claiming it is an issue for states, banks to handle

The Gujarat government is unlikely to buy equity in Tata and Adani power projects at Mundra that have been rendered unviable because of high prices of imported coal, which the Supreme Court has ruled cannot be passed on to state utilities.

The Centre has also distanced itself from the controversy, claiming it is an issue for states and banks to handle.

Tata Power had asked Gujarat Urja Vikas Nigam (GUVNL) to buy 51 per cent equity in its 4,000-Mw Mundra Ultra Mega Power Project (UMPP) for Rs 1. Adani Power and Essar Power, which have projects running on imported coal,