Tata Power proposes to sell 51% equity in loss-making Mundra UMPP at Re 1

Power Ministry sets committee under SBI to look into assets of Tata and Adani

Tata Power has approached Gujarat Urja Vikas Nigam (GUVNL) to buy 51 per cent equity in the 4,000 Mw Mundra Ultra Mega Power Project (UMPP) for Rs 1. Adani Power and Essar Power, which also have power projects based on imported coal, are contemplating similar moves. 

An official said Union Power Minister Piyush Goyal met banks and state government representatives this week to discuss power projects using imported coal and a committee had been set up to look into the fallout of a Supreme Court ruling on compensatory tariffs.

“The government has clarified that it will act as a facilitator.