Final Updated : Oct 09, 2019 10: 17 PM IST | Source: PTI The company would supply vitality at a levelised tariff of Rs 4.07 per unit and the project may perchance be accomplished in next 5 years, NHPC Chairman and MD Balraj Joshi had said.
Philosophize-speed hydro vitality giant NHPC on Wednesday said it has accomplished formalities for taking up 500 MW Teesta VI hydro vitality project, which it has bagged under corporate insolvency resolution path of. NHPC had closing week signed a definitive agreement for implementation of well-liked resolution thought for takeover and resolution of Lanco Teesta Hydro Power Ltd, which was as soon as executing the 500 MW (125 MWx 4) Teesta VI hydro project on Teesta river in Sikkim.”NHPC has accomplished the formalities for the takeover of the 500 MW (125 MW x 4) Teesta VI HEP on Teesta River by remitting the resolution thought consideration of Rs 897.50 crore to the legend of Lanco Teesta Hydro Power Puny for distribution to the total creditors as per the well-liked resolution thought,” NHPC said in an announcement.The company would supply vitality at a levelised tariff of Rs 4.07 per unit and the project may perchance be accomplished in next 5 years, NHPC Chairman and MD Balraj Joshi had said.The company will tie-up with recount discoms for coming into into vitality take agreements (PPAs) on legend of its existing PPA with Maharashtra is now not any longer legitimate anymore, he had said.Earlier, the Hyderabad bench of National Company Law Tribunal (NCLT) had well-liked the resolution thought of NHPC on July 26, 2019 for debt-ridden Lanco Teesta.This was as soon as the First time that a recount-owned company had bagged a project under the IBC (Insolvency and Financial distress Code).The project will likely be implemented at an estimated project label of Rs 5,748.04 crore (on July 2018 label stage), which entails a voice amount of Rs 897.50 crore for acquisition.Earlier in March 2019, the Cupboard Committee on Economic Affairs had well-liked the proposal for acquisition of Lanco’s 500 MW Teesta Hydroelectric Power Project, and execution of balance works for the Teesta VI Project.The Sizable Diwali Within the cut worth of label!Unlock 75% extra savings this festive season. Fetch Moneycontrol Pro for a 365 days for Rs 289 handiest. Coupon code: DIWALI. Supply legitimate till 10th November, 2019 . First Published on Oct 9, 2019 10: 09 pm
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