Tata Power eyes more state pacts to boost Mundra tariffs
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Tata Power expects to sign agreements with four states to charge cost-reflective prices for its Gujarat plant.
- ✓CEO Praveer Sinha said, "We are working closely with all of them to get these things finalised." The company seeks these deals to cover higher coal costs and boost its Mundra plant operations.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Tata Power Co. expects to soon sign agreements with four Indian states allowing it to charge cost reflective prices for electricity from its 4-gigawatt plant in Gujarat, reflecting higher coal costs, Chief Executive Officer Praveer Sinha said Wednesday.
"We are working closely with all of them to get these things finalised," he told reporters on an earnings call. "We expect at least two more states of Rajasthan and Haryana to sign before end of December."
The company is seeking to finalise supplementary power-purchase contracts with Rajasthan, Maharashtra, Punjab and Haryana after it finalised a deal with Gujarat to sell power at prices that are in line with fuel costs.
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