A meeting of stakeholders on three stranded coal-based power projects of Adani Power, Tata Power and Essar Power in Gujarat has been called by SBI Caps in Mumbai on Saturday.

This will be the second meeting of the recently formed High Power Committee (HPC) consisting of former Supreme Court judge RK Agrawal, former RBI Deputy Governor SS Mundra and former Chairman of Central Electricity Regulatory Commission Pramod Deo. The first meeting of the committee, chaired by Agrawal, was conducted last Monday.

The HPC was formed by the Gujarat government. According to the order, the HPC will review the report of the working group of the lenders released in January and will suggest means “for early resolution of the issues” relating to the three coastal projects.

According to an industry source, some of the options that could be taken up for consideration by the committee are revising the PPAs and hiking the tariff as well as adopting a methodology for imported coal price pass-through to secure viable operations of the power plants, as suggested by CERC in 2016.

“They will consider making coal a pass-through. And they might adjust some capacity charge downwards, so that the developers can at least service their debt,” a source said.

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