MUMBAI/NEW DELHI: The commerce ministry has deferred a decision on allowing Adani Power to transfer its Mundra power plant to a subsidiary and sought a no-objection certificate from the project’s lenders to consider the proposal. “BoA of SEZ has deferred the decision with a query,” Adani Power said in a statement. They will retain balance shares.Tata Power operates the 4,000-mw Mundra ultra mega power project that has supply pacts with five states. Essar Power, too, has offered its 1,320-mw Salaya plant to Gujarat post an adverse ruling on April 11 by the Supreme Court. The apex court said increase in coal prices due to a change in overseas laws cannot be considered to amend power purchase agreements.

Source: Economic Times July 11, 2017 11:01 UTC