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Discom cannot terminate PPA with insolvent power company: SC

Discom cannot terminate PPA with insolvent power company: SC
The Gujarat power distribution company had moved Supreme Court saying that neither the National Company Law Tribunal (NCLT) nor the NCLAT had the jurisdiction to stay the termination, which was done as per the clauses of the agreement
Dipak Mondal | March 9, 2021 | Updated 13:25 IST
Gujarat electricity distribution and trading company - Gujarat Urja Vikas Nigam Ltd - has been barred by the Supreme Court to terminate the power purchasing agreement (PPA) with an insolvent company - Astonfield Solar (India) Pvt Ltd.
The Supreme Court on Monday dismissed an appeal by the GUVNL against an order by the National Company Law Appellate Tribunal (NCLAT), which had earlier stayed the termination of PPA on grounds that the power generator - Astonfield Solar (India) - had filed for insolvency. ....

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India renewables firms cry foul as state seeks to renege on pact

India renewables firms cry foul as state seeks to renege on pact
Gujarat Urja Vikas Nigam had awarded the contracts to firms, including ReNew Power, Tata Power and SJVN for building solar capacity at tariffs of as much as ₹2.81 a kilowatt-hour
(Photo: Mint)Premium
. Updated: 24 Feb 2021, 03:18 PM IST Bloomberg
The Centre has stepped in to mediate a dispute between Gujarat and solar power developers over the province’s plan to backtrack on bids for a 700 megawatt project because of high tariffs and invite fresh ones
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India’s federal government has stepped in to mediate a dispute between the state of Gujarat and solar power developers over the province’s plan to backtrack on bids for a 700 megawatt project because of high tariffs and invite fresh ones. ....

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