Reliance Power exits Tilaiya UMPP for Rs 712.64 crore
Reliance Power had announced the termination of Power Purchase Agreement (PPA) of its 3,960 MW Tilaiya UMPP in District Hazaribagh, in Jharkhand in April 2015. Based on tariff-based bidding managed by Power Finance Corporation (PFC), Reliance Power was awarded the Tilaiya UMPP in February 2009.
Reliance Power has exited Tilaiya Ultra Mega Power Project (UMPP) for Rs 712.64 crore, which includes Rs 600 crore in bank guarantees. Image source: IANS