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Published: Mar 31, 2022
Updated: Mar 31, 2022
The Rajasthan electricity distribution companies have transferred Rs 3,000 crore to Adani Power in the last week of March.
This was after the Supreme Court, in its order dated 26th February, asked the Rajasthan discoms to pay Rs 4,312 crore to Adani Power by end March 2022. The Rajasthan discoms have paid Rs 3,000 crore to Adani Power on March 30, 2022.
Industry sources said in August 2020, the SC upheld the rulings of the Rajasthan Electricity Regulatory Commission (RERC) and the Appellate Tribunal for Electricity which had allowed Adani Power’s 1,320-MW Kawai power plant to recover the additional cost incurred by it on importing coal. The SC said the Rajasthan government could not keep its promise of making arrangements for domestic fuel supplies for the plant.
Adani had estimated the loss at over Rs 5,000 crore, but the discoms have so far paid only Rs 2,426 crore and were dilly- dallying on the rest. The SC then asked Rajasthan government-owned entities to pay the amount before March -end this year.
No wonder the Adani Power stock is on fire!
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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