The Supreme Court has allowed cancellation of 1,000 megawatt (mw), or 1 gigawatt (gw), power purchase agreement (PPA) between Adani Power (Mundra) Ltd and Gujarat Urja Vikas Nigam Ltd (GUVNL). On Tuesday, a division bench of Justices S A Bobde and B R Gavai pronounced the judgment allowing Adani Power (Mundra) Ltd's appeal. In 2010, Gujarat Electricity Regulatory Commission (GERC) had ruled against Adani Power (Mundra) for terminating a PPA signed between the company and GUVNL. Consequently, Adani Power (Mundra) will now approach to the CERC for the past compensation." Adani Power (Mundra) Ltd is a wholly owned subsidiary of Adani Power.

Source: dna July 02, 2019 23:50 UTC