New Delhi: Adani Power has released compensation claims for estimated RS 11,000 Crore to achieve completion outside the court with Gujarat Urja Vikas Nigam (GUVNL) in a dispute over the termination of the February 2007 Power Purchase Agreement (PPA) to supply 1,000 MW electricity.
The two entities have submitted a shared application in SC which seeks to dismiss the curative petition submitted by the Power Gujarat utility on the appraisal of the July 2019 Apex Court upholding the termination of PPA Adani as a legal and ordering GUVNL to provide compensation to the company from alternative sources.
Adani Power has transferred SC after losing the case against GUVNL in the State Regulatory Commission and the appeals for electricity.
Entities have now searched for Scrapping Order 2019, said they had resolved their disputes during the 2007 PPA and several aspects of the two additional PPAS signed in December 2018.
As part of the settlement, Adani’s power would not affect the termination of PPA 2007, the main causes of disputes, and forego Claim compensation for supplying power from alternative sources.
The distance of Adani Power and Guvnl spokesman is immediately available for comments.
The 2007 PPA was related to supplying from the Power Adani factory in Korga in Chhattisgarh.
The company stopped the PPA on the grounds that the factory did not get coal from the designated Neini Blok which will be developed by Gujarat Mineral Development Corporation.
As an alternative, it offers the strength of imported coal-based factories in Mundra.