Explore Business Standard
Adani Power Ltd's Board on Tuesday approved the transfer of its Mundra power plant asset to a separate subsidiary Adani Power (Mundra) Ltd on a slump sale basis." The company's board has considered and approved the slump sale of its Mundra power generating business undertaking generating 4620 megawatt of power to its subsidiary company namely Adani Power (Mundra) Ltd," the company said in its statement on Tuesday. The company's Mundra asset has been a drag on the company's financial performance for the past few years due to higher input costs. The Mundra unit was dealt a bigger blow when the Supreme Court decided to not allow for any compensatory tariff on the grounds of change in international laws. Adani Power runs the Mundra unit on Indonesian coal, prices for which rose due to change in Indonesia's import policy, making the plant's operations financially not viable.In its statement, the company said, the asset will be transferred to the subsidiary along with its liabilities. The ..
Adani Power Limited, part of the Adani Group, saw a 330 megawatt (Mw) unit 4 at its 4620 Mw Mundra thermal power plant run continuously for record 600 days, generating 4142.56 million units (MU) of electricity.The Mundra power plant unit pipped a unit at NTPC Ltd's Vindhyachal power plant which ran for 559 days previously, APL stated in an official communique. APL's 330 Mw unit continues to be operational.Commenting on the development, Gautam Adani, chairman of Adani Group stated that the feat was achieved amidst complexity of technology and scale of operations involved in the thermal unit. According to Vneet Jaain, chief executive officer, Adani Power, the uninterrupted operation of the unit was a result of a comprehensive operational excellence and maintenance program having been institutionalized at all APL plants to improve availability and reliability of the units. "Strict adherence to Standard Operating Procedures, systematic skill development of operations team through ...