Reliance Power today said it has filed for arbitration against 11 procurers of power from the 4,000 MW Krishnapatnam Ultra Mega Power Project in Andhra Pradesh.
"Reliance Power has filed its statement of claim in the Indian Council of Arbitration under the Indian Arbitration and Conciliation Act 1996 against the 11 Procurers of its Krishnapatnam Ultra Mega Power Project," the company said in a statement.
The Statement of Claim has cited relevant clauses under the Power Purchase Agreement signed between Coastal Andhra Power Ltd (CAPL), the wholly owned subsidiary of Reliance Power Ltd, and procurers comprising 11 state distribution companies in four states, it said.
The Power Purchase Agreement provides for resolution of disputes by Arbitration under the Indian Arbitration and Conciliation Act 1996, the statement added.
