Moneycontrol Bureau
Reliance Power shares gained more than 4 percent intraday Thursday on APTEL order that paved the way for getting unpaid amount of Rs 850 crore.
Appellate Tribunal for Electricity (APTEL) has upheld company's Sasan UMPP commercial operational date (COD) plea.
"APTEL order now paves the way for Sasan Power to recover unpaid amount of nearly Rs 850 crore from procurers. Sasan will also be entitled to nearly Rs 200 crore of carrying cost as per power purchase agreement," says the company in its filing.
Sasan ultra mega power project implemented in Singrauli district of Madhya Pradesh, is the largest integrated power plant cum coal mining project at a single location in world. The plant operated at over 100 percent plant load factor and coal mines have production of nearly 17 million tonnes during 2015-16. At 15:15 hours IST, the scrip of Reliance Power was quoting at Rs 49.25, up Rs 1.65, or 3.47 percent on BSE.Posted by Sunil Shankar Matkar
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