Adani Power drops Rs 11,000 crore claim to settle PPA dispute

rawan239

2 years ago

Adani Powerhas waived compensation claim for an estimated Rs 11,000 crore to reach an out-of-court settlement withGujarat Urja Vikas Nigam(GUVNL) in a dispute over termination of a February 2007 power purchase agreement (PPA) for supplying 1,000MW electricity.

The entities have now sought scrapping of the 2019 order, saying they have settled their dispute over the

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2007 PPA and some aspects of two supplementary PPAs signed in December 2018. As part of the settlement, Adani Power will not put into effect the termination of the 2007 PPA, the main cause of the dispute, and forego compensation claim for supplying power from alternative sources.