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Reliance Power Ltd has got a breather with the Delhi High Court directing that "no coercive steps" should be taken for the time being for procuring power from the proposed Krishnapatnam Ultra Mega Power Project (UMPP).
The 3,960 MW project using imported coal is being established in Nellore district of Andhra Pradesh by the RPL’s subsidiary Coastal Andhra Power Ltd.
The company, in a communication to the stock exchanges, said that the change in regulations in Indonesia had impacted all imported coal based projects with nearly 15,000 MW capacity involving an investment of Rs 75,000 crore. The Association of Power Producers had raised the issue at their meeting with the Prime Minister and the GoI.
RPower said that "owing to force majeure condition" arising from the above and some other issues, the company had already sent a "dispute resolution notice" on March 13 to all procurers, for an amicable resolution of the matters as per the terms of the Power Purchase Agreement between the parties.
The company said that on a petition filed by it, the Delhi High Court has passed an order on March 20 directing that "no coercive steps shall be taken" for the time being against the company by or on behalf of any of the States procuring power from the proposed Krishnapatnam UMPP.
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