Land Acquisition Delays: Reliance Power terminates 3,960 MW Tilaiya power plant

Anil Ambani-led Reliance Power today said it has terminated the contract for Rs 36,000 crore Tilaiya ultra mega power project in Jharkhand over inordinate delays in land acquisition.

The firm had, in August 2009, won rights to set up a 3,960 MW power plant at Hazaribagh in Jharkhand after bidding a levelised tariff of Rs 1.77 per unit but couldn’t start work on the project as the state government had not provided the required land even after more than five years.

Jharkhand Integrated Power Ltd, a wholly-owned subsidiary of Reliance Power, “has terminated the Power Purchase Agreement (PPA) of its 3,960 MW Tilaiya Ultra Mega Power Project (UMPP) in district Hazaribagh, Jharkhand,” the company said in a statement.

Read full story here: http://www.dnaindia.com/money/report-land-acquisition-delays-reliance-power-terminates-3960-mw-tilaiya-power-plant-2081351
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